✅ STORES LEDGER – 100 MCQs
(Answer at the end)
Q1. The primary purpose of the Stores Ledger in Railways is to:
A. Record only receipts of stores
B. Maintain financial accounts of stores transactions
C. Record issue vouchers only
D. Track employee consumption
Q2. Stores Ledger is maintained by:
A. Depot Store Keeper
B. Executive Department
C. Accounts Department
D. Audit Department
Q3. The Stores Ledger is maintained in:
A. Quantitative form only
B. Financial form only
C. Both quantitative and financial form
D. Neither
Q4. Pricing of issues in Stores Ledger is done based on:
A. Market rate
B. Ledger rate
C. Replacement cost
D. Scrap value
Q5. The Ledger rate is calculated as:
A. Total value ÷ total issues
B. Total value ÷ total receipts
C. Total value ÷ total stock
D. Opening balance ÷ receipts
Q6. If opening stock = 100 units @ ₹10 and receipt = 100 units @ ₹20, ledger rate becomes:
A. ₹10
B. ₹20
C. ₹15
D. ₹12
Q7. Weighted average price method is used in:
A. Stores Ledger
B. Cash Book
C. Salary Register
D. Budget register
Q8. Stores Ledger does NOT include:
A. Receipts
B. Issues
C. Pricing
D. Physical custody
Q9. Who is responsible for physical verification of stores?
A. Accounts
B. Depot officer
C. Auditor
D. Railway Board
Q10. Bin Card is maintained by:
A. Accounts
B. Store Keeper
C. Finance Officer
D. Auditor
Q11. Difference between Bin Card and Stores Ledger is:
A. Quantity vs Value
B. Manual vs Digital
C. Receipt vs Issue
D. None
Q12. Stores Ledger is updated based on:
A. Bin Card
B. Issue Notes
C. Receipt Notes
D. All of the above
Q13. Ledger Folio Number relates to:
A. Item classification
B. Voucher numbering
C. Budget allocation
D. Audit reference
Q14. Numerical: Opening = ₹2000 (100 units), Receipt = 100 units @ ₹30. New rate?
A. ₹20
B. ₹25
C. ₹30
D. ₹22
Q15. Stores Ledger helps in:
A. Budget control
B. Costing
C. Financial reporting
D. All
Q16. Adjustment in Stores Ledger is required for:
A. Losses
B. Surplus
C. Damages
D. All
Q17. Stock verification discrepancies are adjusted through:
A. JV (Journal Voucher)
B. Cash voucher
C. Issue note
D. Transfer note
Q18. Ledger rate fluctuates due to:
A. Issue quantity
B. Receipt price
C. Staff strength
D. Demand
Q19. Stores Ledger is part of:
A. Financial accounts
B. Engineering accounts
C. Operating accounts
D. Audit accounts
Q20. Stores Ledger is maintained item-wise because:
A. Legal requirement
B. Accurate costing
C. Audit requirement
D. All
Q21. Opening: 200 units @ ₹5, Receipt: 100 units @ ₹8 → New rate?
A. ₹6
B. ₹5
C. ₹7
D. ₹6.5
Q22. Stores Ledger balances are verified with:
A. Trial Balance
B. Bin Card
C. Budget
D. Pay bill
Q23. Stores Ledger entries are based on:
A. Physical stock
B. Source documents
C. Estimates
D. Assumptions
Q24. Shortage in stores is treated as:
A. Revenue loss
B. Capital loss
C. Asset
D. Liability
Q25. Surplus stock is:
A. Credited
B. Debited
C. Ignored
D. Written off
Q26. Stores Ledger is closed:
A. Monthly
B. Daily
C. Annually
D. Weekly
Q27. Ledger rate is affected by:
A. Issue price
B. Purchase cost
C. Demand
D. Labour
Q28. Stores Ledger helps in:
A. Preventing fraud
B. Ensuring control
C. Cost tracking
D. All
Q29. Material Transfer between depots is recorded in:
A. Ledger
B. Cash book
C. Salary register
D. Budget
Q30. Stores Ledger supports:
A. Financial audit
B. Technical audit
C. Legal audit
D. None
Q31. Opening: 50 units @ ₹40, Receipt: 50 units @ ₹60 → Rate?
A. ₹50
B. ₹60
C. ₹45
D. ₹55
Q32. Issue pricing ensures:
A. Profit calculation
B. Cost allocation
C. Tax calculation
D. None
Q33. Ledger rate is recalculated:
A. After issue
B. After receipt
C. Monthly
D. Yearly
Q34. Stores Ledger discrepancies lead to:
A. Audit objections
B. Bonus
C. Salary deduction
D. None
Q35. Stores Ledger is maintained centrally for:
A. Control
B. Standardization
C. Accuracy
D. All
Q36. If receipt price is higher, ledger rate:
A. Decreases
B. Increases
C. Remains same
D. Zero
Q37. Ledger rate is NOT affected by:
A. Receipt quantity
B. Issue quantity
C. Receipt price
D. Opening balance
Q38. Stores Ledger is linked to:
A. Budget
B. Finance
C. Audit
D. All
Q39. Stores Ledger ensures:
A. Transparency
B. Accountability
C. Cost control
D. All
Q40. Which document initiates ledger entry?
A. Invoice
B. Receipt note
C. Bill
D. Estimate
Q41. Opening stock: 100 units @ ₹10, Receipt: 200 units @ ₹20. What is new ledger rate?
A. ₹15
B. ₹16.67
C. ₹18
D. ₹20
Q42. In Stores Ledger, issue pricing is based on:
A. Last purchase price
B. Average price
C. Market price
D. Replacement cost
Q43. Opening: 300 units @ ₹5, Receipt: 100 units @ ₹9 → New rate?
A. ₹6
B. ₹6.5
C. ₹7
D. ₹7.5
Q44. Stores Ledger ensures which type of control?
A. Financial control
B. Physical control
C. Administrative control
D. Legal control
Q45. If receipt quantity is very large at lower price, ledger rate will:
A. Increase
B. Decrease
C. Remain unchanged
D. Become zero
Q46. Opening: 50 units @ ₹40, Receipt: 150 units @ ₹20 → New rate?
A. ₹25
B. ₹30
C. ₹22.5
D. ₹20
Q47. Stores Ledger is reconciled periodically with:
A. Cash Book
B. Bin Card
C. Budget Register
D. Pay Roll
Q48. Which transaction does NOT affect ledger rate?
A. Receipt
B. Issue
C. Adjustment
D. Revaluation
Q49. Opening: ₹2000 (200 units), Receipt: 100 units @ ₹15 → New rate?
A. ₹10
B. ₹11.67
C. ₹12
D. ₹13
Q50. Stores Ledger helps in detecting:
A. Shortages
B. Over-issues
C. Errors
D. All
Q51. If issue is made before receipt entry, it may result in:
A. Profit
B. Negative stock
C. Higher rate
D. No effect
Q52. Opening: 100 units @ ₹50, Issue: 50 units → Remaining value?
A. ₹2500
B. ₹5000
C. ₹3000
D. ₹2000
Q53. Stores Ledger is maintained:
A. Depot-wise
B. Item-wise
C. Department-wise
D. Employee-wise
Q54. Opening: 200 units @ ₹8, Receipt: 200 units @ ₹12 → Rate?
A. ₹10
B. ₹9
C. ₹11
D. ₹8
Q55. Ledger rate is always:
A. Fixed
B. Dynamic
C. Market-driven
D. Arbitrary
Q56. If incorrect receipt price is entered, it affects:
A. Only receipts
B. Only issues
C. Entire ledger rate
D. Nothing
Q57. Opening: 400 units @ ₹5, Receipt: 200 units @ ₹10 → New rate?
A. ₹6.67
B. ₹7
C. ₹7.5
D. ₹8
Q58. Which document is used for issue entry?
A. Receipt Note
B. Issue Note
C. Cash Voucher
D. Invoice
Q59. Stores Ledger ensures:
A. Cost uniformity
B. Price fluctuation
C. Profit maximization
D. None
Q60. Ledger rate helps in:
A. Pricing issues
B. Budgeting
C. Costing
D. All
Q61. Opening: 100 units @ ₹30, Receipt: 100 units @ ₹50 → Rate?
A. ₹40
B. ₹35
C. ₹45
D. ₹50
Q62. If receipt price is zero (free supply), ledger rate will:
A. Increase
B. Decrease
C. Remain same
D. Double
Q63. Opening: 500 units @ ₹2, Receipt: 500 units @ ₹6 → Rate?
A. ₹3
B. ₹4
C. ₹5
D. ₹6
Q64. Stores Ledger is checked by:
A. Accounts
B. Audit
C. Both
D. None
Q65. Ledger rate is affected most by:
A. Issue quantity
B. Receipt price
C. Bin card
D. Staff
Q66. Opening: 100 units @ ₹10, Receipt: 100 units @ ₹30, Issue: 50 units → Closing rate?
A. ₹20
B. ₹15
C. ₹25
D. ₹10
Q67. Stores Ledger entries are based on:
A. Physical guess
B. Documents
C. Estimates
D. None
Q68. Opening: 200 units @ ₹25, Receipt: 200 units @ ₹35 → Rate?
A. ₹30
B. ₹32
C. ₹28
D. ₹35
Q69. Which is NOT a function of Stores Ledger?
A. Recording
B. Pricing
C. Custody
D. Reporting
Q70. Opening: 100 units @ ₹10, Receipt: 50 units @ ₹40 → Rate?
A. ₹20
B. ₹15
C. ₹25
D. ₹18
Q71. Ledger helps in:
A. Financial accuracy
B. Cost control
C. Audit
D. All
Q72. Opening: 300 units @ ₹6, Receipt: 300 units @ ₹12 → Rate?
A. ₹9
B. ₹8
C. ₹10
D. ₹7
Q73. Stores Ledger is part of:
A. Cost accounting
B. Financial accounting
C. Both
D. None
Q74. Opening: 200 units @ ₹10, Issue: 100 units → Balance quantity?
A. 200
B. 100
C. 50
D. 300
Q75. Ledger ensures:
A. Transparency
B. Accuracy
C. Accountability
D. All
Q76. Opening: 100 units @ ₹20, Receipt: 100 units @ ₹40 → Rate?
A. ₹30
B. ₹25
C. ₹35
D. ₹40
Q77. Stores Ledger discrepancies lead to:
A. Audit objection
B. Bonus
C. Profit
D. None
Q78. Opening: 50 units @ ₹10, Receipt: 50 units @ ₹30 → Rate?
A. ₹20
B. ₹25
C. ₹15
D. ₹30
Q79. Ledger rate ensures:
A. Fair costing
B. Overpricing
C. Underpricing
D. None
Q80. Opening: 400 units @ ₹8, Receipt: 100 units @ ₹12 → Rate?
A. ₹8.8
B. ₹9
C. ₹10
D. ₹11
Q81. Stores Ledger helps in:
A. Fraud detection
B. Error correction
C. Cost control
D. All
Q82. Opening: 100 units @ ₹15, Receipt: 300 units @ ₹25 → Rate?
A. ₹22.5
B. ₹20
C. ₹18
D. ₹25
Q83. Ledger entries must be:
A. Delayed
B. Timely
C. Optional
D. Random
Q84. Opening: 200 units @ ₹12, Receipt: 200 units @ ₹18 → Rate?
A. ₹15
B. ₹16
C. ₹14
D. ₹18
Q85. Stores Ledger supports:
A. Audit
B. Costing
C. Budget
D. All
Q86. Opening: 300 units @ ₹4, Receipt: 100 units @ ₹8 → Rate?
A. ₹5
B. ₹6
C. ₹4.5
D. ₹7
Q87. Ledger rate is recalculated:
A. After receipt
B. After issue
C. Yearly
D. Never
Q88. Opening: 100 units @ ₹10, Receipt: 100 units @ ₹10 → Rate?
A. ₹10
B. ₹20
C. ₹5
D. ₹15
Q89. Stores Ledger ensures:
A. Uniform pricing
B. Random pricing
C. Market pricing
D. None
Q90. Opening: 200 units @ ₹5, Receipt: 200 units @ ₹15 → Rate?
A. ₹10
B. ₹12
C. ₹8
D. ₹15
Q91. Ledger errors affect:
A. Financial statements
B. Costing
C. Audit
D. All
Q92. Opening: 100 units @ ₹8, Receipt: 400 units @ ₹12 → Rate?
A. ₹11.2
B. ₹10
C. ₹9
D. ₹12
Q93. Stores Ledger is:
A. Static
B. Dynamic
C. Temporary
D. Optional
Q94. Opening: 200 units @ ₹20, Receipt: 100 units @ ₹40 → Rate?
A. ₹26.67
B. ₹30
C. ₹35
D. ₹25
Q95. Ledger reconciliation ensures:
A. Accuracy
B. Fraud
C. Delay
D. None
Q96. Opening: 100 units @ ₹50, Receipt: 100 units @ ₹50 → Rate?
A. ₹50
B. ₹100
C. ₹25
D. ₹75
Q97. Stores Ledger is essential for:
A. Inventory control
B. Costing
C. Audit
D. All
Q98. Opening: 300 units @ ₹6, Receipt: 100 units @ ₹18 → Rate?
A. ₹9
B. ₹10
C. ₹12
D. ₹8
Q99. Ledger rate helps in:
A. Uniform issue pricing
B. Random pricing
C. Profit maximization
D. None
Q100. Stores Ledger is backbone of:
A. Inventory accounting
B. Payroll
C. Budget
D. Audit
✅ ANSWER KEY (1–100)
1-B, 2-C, 3-C, 4-B, 5-C
6-C, 7-A, 8-D, 9-B, 10-B
11-A, 12-D, 13-A, 14-B, 15-D
16-D, 17-A, 18-B, 19-A, 20-D
21-A, 22-B, 23-B, 24-A, 25-A
26-A, 27-B, 28-D, 29-A, 30-A
31-A, 32-B, 33-B, 34-A, 35-D
36-B, 37-B, 38-D, 39-D, 40-B
41-B, 42-B, 43-A, 44-A, 45-B
46-A, 47-B, 48-B, 49-B, 50-D
51-B, 52-A, 53-B, 54-A, 55-B
56-C, 57-A, 58-B, 59-A, 60-D
61-A, 62-B, 63-B, 64-C, 65-B
66-A, 67-B, 68-A, 69-C, 70-A
71-D, 72-A, 73-C, 74-B, 75-D
76-A, 77-A, 78-A, 79-A, 80-A
81-D, 82-A, 83-B, 84-A, 85-D
86-A, 87-A, 88-A, 89-A, 90-A
91-D, 92-A, 93-B, 94-A, 95-A
96-A, 97-D, 98-A, 99-A, 100-A
Join WhatsApp Channel
No comments:
Post a Comment