The method of recording stores balances after each receipt and issue to facilitate regular checking is known as

Related MCQs

• ……………obviates the necessity for the physical checking of all items of stores at the end of the year and thereby avoids dislocation of production.
• The following details have been extracted from the debtors collection records of X limited: Invoices paid in the month after sale 60% Invoices pain in the second month after sale 20% Invoices paid in the third month after sale 15% Bad debts 5% Credit sales for June to August 2014 or budgeted as follows: June Rs. 1,00,000 July Rs. 1,50,000 August Rs. 1,30,000 customers pain in the month after sale are entitled to deduct a 2% cash discount. Invoices are issued on the last day of the month. The amount budgeted to be received in September 2014 from credit sales is
• Recording time for attendance purpose and for calculation of wages is done through
• ________ is concerned with the recording of time of workers for the purpose of attendance and wage calculations.
• Specific price method of valuing material issue is used when………….
• The use of FIFO method in material issue control is more suitable when
• The use of LIFO method in material issue control is more suitable when
• The accounting entry is integrated accounts for recording sales will be
• Under integral system, the accounting entry for recording depreciation charges on machinery will be
• In Entry under Integrated System for Credit purchase of material for stock, Stores Ledger Control is ____________.