Inventory Systems (Grade 10 NSC Matric Accounting): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the term used for products that a business keeps in stock?
What is the term used for products that a business keeps in stock?
Inventory or trading stock
How many main factors determine which inventory system a business should use?
How many main factors determine which inventory system a business should use?
Three factors
Which system maintains up-to-date records of stock levels for all items?
Which system maintains up-to-date records of stock levels for all items?
Continuous inventory system
What technology tools make the continuous inventory system more practical?
What technology tools make the continuous inventory system more practical?
Scanners and bar codes
Which type of business would typically use a continuous inventory system?
Which type of business would typically use a continuous inventory system?
Electronic stores
The periodic system suits goods that are what?
The periodic system suits goods that are what?
Not easily identifiable or measurable
Why would a café use the periodic inventory system?
Why would a café use the periodic inventory system?
Can't track each grain of coffee used
Which business would likely use a periodic inventory system?
Which business would likely use a periodic inventory system?
Hair salon
Which inventory system do Grade 10 students learn about?
Which inventory system do Grade 10 students learn about?
Continuous inventory system
How often does the periodic system count inventory?
How often does the periodic system count inventory?
At specific intervals