Exam Questions on Stock Validation (Grade 12 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
Which format is essential for stock validation questions in Trading Account?
Which format is essential for stock validation questions in Trading Account?
Two columns: Rand amounts and units
Under FIFO, what does closing stock consist of?
Under FIFO, what does closing stock consist of?
The most recently purchased items
How is the average cost per unit calculated in weighted average method?
How is the average cost per unit calculated in weighted average method?
Total value ÷ Total units
What is the formula for cost of sales?
What is the formula for cost of sales?
How is gross profit calculated?
How is gross profit calculated?
What formula calculates expected closing stock in stock validation?
What formula calculates expected closing stock in stock validation?
What does the stock turnover ratio show?
What does the stock turnover ratio show?
How many times per year stock is replaced
What does period of stock on hand show?
What does period of stock on hand show?
How long stock sits before being sold
What is the formula for mark-up percentage?
What is the formula for mark-up percentage?
When recording stock theft, which account is debited?
When recording stock theft, which account is debited?
Trading stock deficit/Loss due to theft