✅ PHYSICAL VERIFICATION – 50 MCQs (Railway Stores Accounting)
Q1. Physical verification of stores means:
A. Checking purchase records
B. Counting actual stock available
C. Verifying invoices
D. Checking budget
Q2. Physical verification is conducted to:
A. Ensure correct pricing
B. Confirm physical existence of stores
C. Audit accounts
D. Allocate funds
Q3. Physical verification is generally carried out by:
A. Store keeper alone
B. Independent staff
C. Accounts clerk
D. Vendor
Q4. Physical verification differs from stock verification because it focuses on:
A. Financial value
B. Physical quantity and condition
C. Audit report
D. Budget
Q5. Which is essential during physical verification?
A. Counting
B. Weighing
C. Measurement
D. All
Q6. Physical verification is necessary for:
A. Internal control
B. Fraud detection
C. Inventory accuracy
D. All
Q7. Items difficult to count (like oil) are verified by:
A. Counting
B. Estimation
C. Measurement
D. Ignoring
Q8. Physical verification should be:
A. Announced
B. Surprise-based
C. Ignored
D. Random
Q9. Verification of bulky items is done by:
A. Counting
B. Weighing
C. Estimation
D. Ignoring
Q10. Responsibility of physical custody lies with:
A. Accounts
B. Store keeper
C. Auditor
D. Railway Board
Q11. Physical verification includes checking:
A. Quantity
B. Quality
C. Condition
D. All
Q12. If items are damaged, they are classified as:
A. Good stock
B. Scrap
C. Surplus
D. Normal
Q13. Physical verification is conducted:
A. Daily
B. Periodically
C. Once
D. Never
Q14. Numerical: Physical count = 480 units, Ledger = 500 units → shortage?
A. 10
B. 15
C. 20
D. 25
Q15. Physical verification helps detect:
A. Theft
B. Damage
C. Obsolescence
D. All
Q16. Verification of liquid stock is done by:
A. Counting
B. Measuring volume
C. Guessing
D. Ignoring
Q17. Physical verification report includes:
A. Quantity
B. Condition
C. Difference
D. All
Q18. If physical stock > ledger, it indicates:
A. Error
B. Surplus
C. Both
D. None
Q19. Physical verification must be:
A. Independent
B. Biased
C. Ignored
D. Optional
Q20. Verification frequency depends on:
A. Value
B. Nature
C. Risk
D. All
Q21. Numerical: Physical stock ₹9,500, ledger ₹10,000 → shortage %?
A. 2%
B. 5%
C. 10%
D. 15%
Q22. Physical verification ensures:
A. Accurate records
B. Proper control
C. Accountability
D. All
Q23. Items in sealed packages are verified by:
A. Counting packages
B. Opening all
C. Ignoring
D. Guessing
Q24. Verification of tools and plants is:
A. Easy
B. Difficult
C. Ignored
D. Optional
Q25. Physical verification is part of:
A. Internal control
B. External audit
C. Budget
D. Payroll
Q26. If damaged items are found, action is:
A. Ignore
B. Record and report
C. Sell immediately
D. Destroy
Q27. Verification report is submitted to:
A. Store keeper
B. Accounts
C. Higher authority
D. Vendor
Q28. Numerical: Ledger 1000 units, physical 1020 → surplus?
A. 10
B. 15
C. 20
D. 25
Q29. Physical verification ensures:
A. No fraud
B. No error
C. Reduction in risk
D. Profit
Q30. Verification of perishable items should be:
A. Rare
B. Frequent
C. Never
D. Once
Q31. Physical verification is recorded in:
A. Ledger
B. Bin card
C. Verification sheet
D. Cash book
Q32. If stock is misplaced, it appears as:
A. Surplus
B. Shortage
C. Asset
D. Liability
Q33. Verification includes identification of:
A. Item
B. Quantity
C. Condition
D. All
Q34. Numerical: Physical ₹48,000, ledger ₹50,000 → shortage?
A. ₹1000
B. ₹2000
C. ₹3000
D. ₹4000
Q35. Physical verification is necessary before:
A. Audit
B. Financial statements
C. Stock valuation
D. All
Q36. Verification must be conducted by:
A. Responsible officer
B. Auditor
C. Store clerk
D. Vendor
Q37. If incorrect count occurs, it leads to:
A. Error
B. Fraud
C. Misstatement
D. All
Q38. Physical verification reduces:
A. Loss
B. Fraud
C. Errors
D. All
Q39. Numerical: Physical 900 units, ledger 1000 → shortage value @₹5?
A. ₹400
B. ₹500
C. ₹600
D. ₹700
Q40. Verification of small items is:
A. Easy
B. Difficult
C. Ignored
D. Optional
Q41. Physical verification helps in:
A. Cost control
B. Inventory control
C. Audit
D. All
Q42. Verification ensures:
A. True stock
B. True cost
C. True records
D. All
Q43. Physical verification must be:
A. Regular
B. Irregular
C. Optional
D. Ignored
Q44. Numerical: Physical 105 units, ledger 100 → surplus %?
A. 2%
B. 5%
C. 10%
D. 15%
Q45. Verification is essential for:
A. Financial reporting
B. Audit
C. Control
D. All
Q46. Physical verification detects:
A. Excess
B. Shortage
C. Damage
D. All
Q47. Verification report must be:
A. Oral
B. Written
C. Ignored
D. Optional
Q48. Verification ensures:
A. Accountability
B. Transparency
C. Accuracy
D. All
Q49. Verification is required for:
A. All stores
B. Selected stores
C. High-value only
D. None
Q50. Physical verification is backbone of:
A. Inventory control
B. Costing
C. Budget
D. Audit
✅ ANSWER KEY (1–50)
1-B, 2-B, 3-B, 4-B, 5-D
6-D, 7-C, 8-B, 9-B, 10-B
11-D, 12-B, 13-B, 14-C, 15-D
16-B, 17-D, 18-C, 19-A, 20-D
21-B, 22-D, 23-A, 24-B, 25-A
26-B, 27-C, 28-C, 29-C, 30-B
31-C, 32-B, 33-D, 34-B, 35-D
36-A, 37-D, 38-D, 39-B, 40-A
41-D, 42-D, 43-A, 44-B, 45-D
46-D, 47-B, 48-D, 49-A, 50-A
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