✅ STOCK VERIFICATION – 50 MCQs (Railway Stores Accounting)
Q1. Stock verification in Railways is primarily conducted to:
A. Check purchase efficiency
B. Verify physical existence of stores
C. Fix selling price
D. Allocate budget
Q2. Stock verification is carried out by:
A. Store Keeper
B. Accounts staff
C. Independent verification staff
D. Audit only
Q3. Frequency of stock verification depends on:
A. Value of items
B. Nature of items
C. Risk involved
D. All
Q4. High-value items are verified:
A. Once in 5 years
B. Annually
C. Monthly
D. Never
Q5. Low-value items are verified:
A. Daily
B. Annually
C. Once in 2–3 years
D. Weekly
Q6. Stock verification compares:
A. Purchase vs sales
B. Ledger vs Bin Card
C. Physical stock vs ledger balance
D. Budget vs expenditure
Q7. Discrepancy found during verification is called:
A. Adjustment
B. Variation
C. Difference
D. All
Q8. Excess stock is treated as:
A. Liability
B. Income
C. Surplus
D. Expense
Q9. Shortage of stock is treated as:
A. Income
B. Loss
C. Asset
D. Liability
Q10. Verification report is prepared by:
A. Store Keeper
B. Verifying officer
C. Auditor
D. Accounts clerk
Q11. Stock verification ensures:
A. Accuracy
B. Accountability
C. Control
D. All
Q12. Verification of stores includes:
A. Quantity check
B. Condition check
C. Identification
D. All
Q13. If ledger shows 100 units but physical is 90, shortage is:
A. 5
B. 10
C. 15
D. 20
Q14. If ledger shows 200 units but physical is 220, surplus is:
A. 10
B. 15
C. 20
D. 25
Q15. Stock verification helps in detecting:
A. Theft
B. Loss
C. Mismanagement
D. All
Q16. Verification is independent of:
A. Store staff
B. Accounts
C. Audit
D. Budget
Q17. Stock verification is part of:
A. Financial control
B. Inventory control
C. Budget control
D. None
Q18. Numerical: Ledger = 500 units, Physical = 480 units, shortage %?
A. 2%
B. 4%
C. 5%
D. 10%
Q19. If shortage is within permissible limit:
A. Ignored
B. Adjusted
C. Written off
D. Reported
Q20. Excess stock is recorded by:
A. Debit
B. Credit
C. Adjustment entry
D. Ignore
Q21. Stock verification is done:
A. Before audit
B. During audit
C. Periodically
D. Once
Q22. Responsibility of stock lies with:
A. Accounts
B. Store keeper
C. Audit
D. Railway Board
Q23. Verification includes checking:
A. Quantity
B. Quality
C. Condition
D. All
Q24. Shortage due to theft is:
A. Normal loss
B. Abnormal loss
C. Asset
D. Income
Q25. Shortage due to evaporation is:
A. Normal loss
B. Abnormal loss
C. Income
D. Liability
Q26. Verification of perishable items is done:
A. Rarely
B. Frequently
C. Never
D. Once
Q27. Verification report is submitted to:
A. Accounts
B. Audit
C. Higher authority
D. All
Q28. Numerical: Ledger value ₹10,000, shortage ₹500 → % shortage?
A. 2%
B. 5%
C. 10%
D. 15%
Q29. If physical stock exceeds ledger, it indicates:
A. Error
B. Surplus
C. Both
D. None
Q30. Verification ensures:
A. Correct records
B. Physical existence
C. Proper control
D. All
Q31. Surprise verification is done to detect:
A. Fraud
B. Error
C. Loss
D. All
Q32. Verification frequency increases with:
A. Risk
B. Value
C. Sensitivity
D. All
Q33. Stock discrepancy requires:
A. Investigation
B. Adjustment
C. Approval
D. All
Q34. Numerical: Ledger 1000 units, Physical 950 → shortage value @₹10/unit?
A. ₹500
B. ₹1000
C. ₹1500
D. ₹2000
Q35. Verification is recorded in:
A. Bin card
B. Ledger
C. Verification sheet
D. Cash book
Q36. Verification of tools is:
A. Easy
B. Difficult
C. Ignored
D. Rare
Q37. Verification must be:
A. Biased
B. Independent
C. Optional
D. Random
Q38. Shortage must be:
A. Ignored
B. Adjusted
C. Reported
D. Both B & C
Q39. Numerical: Ledger ₹50,000, physical ₹48,000 → shortage?
A. ₹1000
B. ₹2000
C. ₹3000
D. ₹4000
Q40. Excess stock leads to:
A. Debit
B. Credit
C. Adjustment
D. Ignore
Q41. Verification is part of:
A. Internal control
B. External audit
C. Costing
D. Budget
Q42. Stock verification detects:
A. Obsolete stock
B. Damaged stock
C. Excess stock
D. All
Q43. Verification report includes:
A. Quantity
B. Value
C. Difference
D. All
Q44. Numerical: Ledger 800 units, physical 840 → surplus value @₹5?
A. ₹100
B. ₹200
C. ₹300
D. ₹400
Q45. Verification must be documented for:
A. Audit
B. Records
C. Control
D. All
Q46. Responsibility of shortage lies with:
A. Store keeper
B. Accounts
C. Audit
D. None
Q47. Verification reduces:
A. Fraud
B. Errors
C. Loss
D. All
Q48. Verification ensures:
A. Accuracy
B. Efficiency
C. Control
D. All
Q49. Verification is necessary for:
A. Financial statements
B. Costing
C. Audit
D. All
Q50. Stock verification is backbone of:
A. Inventory control
B. Financial control
C. Budget
D. Audit
✅ ANSWER KEY (1–50)
1-B, 2-C, 3-D, 4-B, 5-C
6-C, 7-D, 8-C, 9-B, 10-B
11-D, 12-D, 13-B, 14-C, 15-D
16-A, 17-B, 18-B, 19-C, 20-C
21-C, 22-B, 23-D, 24-B, 25-A
26-B, 27-D, 28-B, 29-C, 30-D
31-D, 32-D, 33-D, 34-A, 35-C
36-B, 37-B, 38-D, 39-B, 40-C
41-A, 42-D, 43-D, 44-B, 45-D
46-A, 47-D, 48-D, 49-D, 50-A
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