✅ PRICING OF STORES – 100 MCQs (Railway Stores Accounting)
Q1. Pricing of stores refers to:
A. Fixing purchase price
B. Determining issue rate of materials
C. Market valuation
D. Budget allocation
Q2. In Railways, issue price is generally based on:
A. Market price
B. Standard price
C. Ledger rate
D. Replacement cost
Q3. Ledger rate is calculated using:
A. FIFO
B. LIFO
C. Weighted average
D. Market rate
Q4. Pricing of stores affects:
A. Costing
B. Budget
C. Financial accounts
D. All
Q5. Issue price must ensure:
A. Profit
B. Cost recovery
C. Loss
D. Arbitrary value
Q6. Which method is NOT used in railway stores pricing?
A. Weighted average
B. FIFO
C. LIFO
D. Standard costing
Q7. Pricing is done at the time of:
A. Purchase
B. Issue
C. Storage
D. Audit
Q8. Ledger rate changes due to:
A. Issue
B. Receipt
C. Transfer
D. Consumption
Q9. Issue price in stores ledger is:
A. Fixed
B. Variable
C. Market-based
D. Random
Q10. Pricing of stores helps in:
A. Cost control
B. Budgeting
C. Financial reporting
D. All
Q11. Under weighted average, issue price is:
A. Latest price
B. Average price
C. Oldest price
D. Market price
Q12. Pricing ensures:
A. Uniformity
B. Accuracy
C. Control
D. All
Q13. Issue price affects:
A. Departmental cost
B. Profit
C. Budget
D. All
Q14. Ledger rate is recalculated:
A. After issue
B. After receipt
C. Monthly
D. Yearly
Q15. Pricing of stores is done by:
A. Store Keeper
B. Accounts Department
C. Auditor
D. Railway Board
Q16. Issue price should be:
A. Higher than cost
B. Equal to cost
C. Lower than cost
D. Random
Q17. Stores pricing method ensures:
A. Fair allocation of cost
B. Profit maximization
C. Market fluctuation
D. None
Q18. Pricing affects:
A. Inventory valuation
B. Costing
C. Budget
D. All
Q19. Issue pricing is done to:
A. Recover cost
B. Earn profit
C. Reduce stock
D. None
Q20. Pricing errors affect:
A. Cost
B. Financial statements
C. Audit
D. All
Q21. Opening: 100 units @ ₹10, Receipt: 100 units @ ₹20 → issue price?
A. ₹10
B. ₹20
C. ₹15
D. ₹12
Q22. Issue 50 units → issue value?
A. ₹750
B. ₹500
C. ₹1000
D. ₹600
Q23. Closing stock value?
A. ₹1500
B. ₹1000
C. ₹2000
D. ₹1200
Q24. Opening: 200 units @ ₹5, Receipt: 100 units @ ₹15 → rate?
A. ₹8.33
B. ₹10
C. ₹12
D. ₹7
Q25. Issue 150 units → value?
A. ₹1250
B. ₹1000
C. ₹1500
D. ₹800
Q26. Opening: ₹2000 (200 units), Receipt: 100 units @ ₹20 → rate?
A. ₹12
B. ₹13.33
C. ₹15
D. ₹10
Q27. Issue 100 units → value?
A. ₹1333
B. ₹1200
C. ₹1500
D. ₹1000
Q28. Opening: 50 units @ ₹40, Receipt: 50 units @ ₹60 → rate?
A. ₹50
B. ₹45
C. ₹55
D. ₹60
Q29. Issue 40 units → value?
A. ₹2000
B. ₹1800
C. ₹1600
D. ₹1500
Q30. Opening: 100 units @ ₹8, Receipt: 200 units @ ₹12 → rate?
A. ₹10.67
B. ₹10
C. ₹11
D. ₹9
Q31. Issue 150 units → value?
A. ₹1600
B. ₹1500
C. ₹1400
D. ₹1700
Q32. Opening: 100 units @ ₹10, Receipt: 100 units @ ₹30 → rate?
A. ₹20
B. ₹15
C. ₹25
D. ₹30
Q33. Issue 50 units → value?
A. ₹1000
B. ₹750
C. ₹1500
D. ₹500
Q34. Opening: 200 units @ ₹20, Receipt: 100 units @ ₹40 → rate?
A. ₹26.67
B. ₹30
C. ₹35
D. ₹25
Q35. Issue 150 units → value?
A. ₹4000
B. ₹3500
C. ₹3000
D. ₹2500
Q36. Opening: 100 units @ ₹5, Receipt: 100 units @ ₹15 → rate?
A. ₹10
B. ₹8
C. ₹12
D. ₹15
Q37. Issue 80 units → value?
A. ₹800
B. ₹600
C. ₹700
D. ₹900
Q38. Opening: 300 units @ ₹6, Receipt: 100 units @ ₹18 → rate?
A. ₹9
B. ₹10
C. ₹12
D. ₹8
Q39. Issue 200 units → value?
A. ₹1800
B. ₹2000
C. ₹1600
D. ₹1500
Q40. Opening: 100 units @ ₹25, Receipt: 100 units @ ₹35 → rate?
A. ₹30
B. ₹28
C. ₹32
D. ₹35
Q41. Issue 50 units → value?
A. ₹1500
B. ₹1400
C. ₹1600
D. ₹1300
Q42. Opening: 200 units @ ₹10, Receipt: 300 units @ ₹20 → rate?
A. ₹16
B. ₹15
C. ₹18
D. ₹12
Q43. Issue 250 units → value?
A. ₹4000
B. ₹3750
C. ₹3500
D. ₹3000
Q44. Opening: 100 units @ ₹50, Receipt: 100 units @ ₹50 → rate?
A. ₹50
B. ₹100
C. ₹25
D. ₹75
Q45. Issue 100 units → value?
A. ₹5000
B. ₹4000
C. ₹3000
D. ₹6000
Q46. Opening: 400 units @ ₹8, Receipt: 100 units @ ₹12 → rate?
A. ₹8.8
B. ₹9
C. ₹10
D. ₹11
Q47. Issue 200 units → value?
A. ₹1760
B. ₹1800
C. ₹2000
D. ₹1500
Q48. Opening: 100 units @ ₹15, Receipt: 300 units @ ₹25 → rate?
A. ₹22.5
B. ₹20
C. ₹18
D. ₹25
Q49. Issue 100 units → value?
A. ₹2250
B. ₹2000
C. ₹1800
D. ₹2500
Q50. Pricing ensures:
A. Cost allocation
B. Profit
C. Market rate
D. None
Q51. If issue price is higher than ledger rate, it leads to:
A. Profit
B. Loss
C. Overcosting
D. Undercosting
Q52. If issue price is lower than ledger rate:
A. Profit
B. Loss
C. No effect
D. Asset increase
Q53. Pricing errors affect:
A. Cost
B. Financial accounts
C. Audit
D. All
Q54. Issue price should match:
A. Market price
B. Ledger rate
C. Purchase price
D. Standard rate
Q55. Pricing is important for:
A. Costing
B. Budget
C. Audit
D. All
Q56. If incorrect rate used, adjustment is done through:
A. Journal Voucher
B. Cash book
C. Issue note
D. Bin card
Q57. Pricing ensures:
A. Fair cost distribution
B. Profit maximization
C. Loss minimization
D. None
Q58. Issue pricing affects:
A. Department cost
B. Project cost
C. Budget
D. All
Q59. Ledger rate prevents:
A. Price fluctuation impact
B. Cost variation
C. Budget errors
D. All
Q60. Pricing is part of:
A. Stores accounting
B. Financial accounting
C. Cost accounting
D. All
Q61. If receipt at high price occurs, issue price will:
A. Increase
B. Decrease
C. Remain same
D. Zero
Q62. If receipt at low price occurs, issue price will:
A. Increase
B. Decrease
C. Remain same
D. Double
Q63. Pricing is based on:
A. Cost principle
B. Prudence
C. Consistency
D. All
Q64. Issue price must ensure:
A. Accurate costing
B. Budget control
C. Financial accuracy
D. All
Q65. Pricing errors lead to:
A. Audit objection
B. Misstatement
C. Wrong costing
D. All
Q66. Pricing method used in Railways is mainly:
A. FIFO
B. LIFO
C. Weighted average
D. Market price
Q67. Issue pricing ensures:
A. Uniform rate
B. Random rate
C. Market fluctuation
D. None
Q68. Pricing is affected by:
A. Receipt price
B. Quantity
C. Opening stock
D. All
Q69. Ledger rate is dynamic because of:
A. Receipts
B. Issues
C. Storage
D. Audit
Q70. Issue price affects:
A. Cost sheet
B. Profit
C. Budget
D. All
Q71. Pricing ensures:
A. Transparency
B. Accountability
C. Accuracy
D. All
Q72. Incorrect pricing leads to:
A. Overcosting
B. Undercosting
C. Misreporting
D. All
Q73. Pricing supports:
A. Financial reporting
B. Costing
C. Audit
D. All
Q74. Pricing is essential for:
A. Inventory control
B. Cost allocation
C. Budgeting
D. All
Q75. Ledger rate calculation includes:
A. Opening stock
B. Receipts
C. Total quantity
D. All
Q76. Issue price equals:
A. Ledger rate
B. Market rate
C. Standard rate
D. Replacement cost
Q77. Pricing ensures:
A. Fair costing
B. Uniformity
C. Accuracy
D. All
Q78. Ledger rate recalculation depends on:
A. Receipts
B. Issues
C. Audit
D. Budget
Q79. Pricing error affects:
A. One entry
B. Entire ledger
C. Nothing
D. Audit only
Q80. Pricing supports:
A. Decision making
B. Cost control
C. Budgeting
D. All
Q81. Pricing helps in:
A. Fraud detection
B. Error correction
C. Cost control
D. All
Q82. Ledger rate ensures:
A. Stable pricing
B. Random pricing
C. Market pricing
D. None
Q83. Pricing is done per:
A. Item
B. Department
C. Employee
D. Budget
Q84. Pricing affects:
A. Inventory value
B. Cost
C. Profit
D. All
Q85. Issue price must be:
A. Consistent
B. Random
C. Market-based
D. Arbitrary
Q86. Pricing ensures:
A. Cost recovery
B. Profit
C. Loss
D. None
Q87. Ledger rate is calculated using:
A. Total value / total quantity
B. Total issues / receipts
C. Market rate
D. Standard rate
Q88. Pricing method should be:
A. Consistent
B. Frequently changed
C. Random
D. Optional
Q89. Pricing ensures:
A. True cost
B. True profit
C. True valuation
D. All
Q90. Pricing errors impact:
A. Financial statements
B. Costing
C. Audit
D. All
Q91. Pricing supports:
A. Inventory management
B. Cost control
C. Budget
D. All
Q92. Ledger rate prevents:
A. Sudden fluctuation
B. Cost variation
C. Pricing error
D. All
Q93. Pricing is essential for:
A. Stores accounting
B. Cost accounting
C. Financial accounting
D. All
Q94. Pricing ensures:
A. Efficiency
B. Accuracy
C. Transparency
D. All
Q95. Issue pricing affects:
A. Department
B. Project
C. Cost
D. All
Q96. Pricing must follow:
A. Accounting principles
B. Railway rules
C. Consistency
D. All
Q97. Pricing supports:
A. Audit
B. Reporting
C. Costing
D. All
Q98. Pricing errors lead to:
A. Misstatement
B. Audit objection
C. Wrong costing
D. All
Q99. Pricing ensures:
A. Correct valuation
B. Accurate costing
C. Financial control
D. All
Q100. Pricing of stores is backbone of:
A. Stores accounting
B. Costing
C. Financial reporting
D. All
✅ ANSWER KEY (1–100)
1-B, 2-C, 3-C, 4-D, 5-B
6-D, 7-B, 8-B, 9-B, 10-D
11-B, 12-D, 13-D, 14-B, 15-B
16-B, 17-A, 18-D, 19-A, 20-D
21-C, 22-A, 23-A, 24-A, 25-A
26-B, 27-A, 28-A, 29-A, 30-A
31-A, 32-A, 33-A, 34-A, 35-A
36-A, 37-A, 38-A, 39-A, 40-A
41-A, 42-A, 43-A, 44-A, 45-A
46-A, 47-A, 48-A, 49-A, 50-A
51-D, 52-B, 53-D, 54-B, 55-D
56-A, 57-A, 58-D, 59-D, 60-D
61-A, 62-B, 63-D, 64-D, 65-D
66-C, 67-A, 68-D, 69-A, 70-D
71-D, 72-D, 73-D, 74-D, 75-D
76-A, 77-D, 78-A, 79-B, 80-D
81-D, 82-A, 83-A, 84-D, 85-A
86-A, 87-A, 88-A, 89-D, 90-D
91-D, 92-D, 93-D, 94-D, 95-D
96-D, 97-D, 98-D, 99-D, 100-D
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