Showing posts with label appendix-IV. Show all posts

25 April 2026

✅ DISPOSAL PROCEDURES – 50 MCQs (Railway Stores Accounting)

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✅ DISPOSAL PROCEDURES – 50 MCQs (Railway Stores Accounting)

April 25, 2026

appendix-IV, Disposal Procedure, Stock Verification, Stores

24 April 2026

✅ SHORTAGE AND SURPLUS – 50 MCQs (Railway Stores Accounting)

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✅ SHORTAGE AND SURPLUS – 50 MCQs (Railway Stores Accounting)

Q1. Shortage of stores means:

A. Excess stock
B. Physical stock less than book balance
C. Purchase loss
D. Budget deficit

Q2. Surplus of stores means:

A. Physical stock less than ledger
B. Physical stock more than ledger
C. Loss
D. Expense

Q3. Shortage is generally treated as:

A. Asset
B. Expense
C. Liability
D. Income

Q4. Surplus is generally treated as:

A. Expense
B. Liability
C. Gain
D. Asset

Q5. Shortage detected during verification is adjusted through:

A. Issue note
B. Journal voucher
C. Receipt note
D. Cash book

Q6. Surplus stock is brought into account by:

A. Debit entry
B. Credit entry
C. Adjustment entry
D. Ignore

Q7. Shortage due to theft is:

A. Normal loss
B. Abnormal loss
C. Income
D. Asset

Q8. Shortage due to evaporation is:

A. Normal loss
B. Abnormal loss
C. Gain
D. Liability

Q9. Responsibility for shortage lies with:

A. Store keeper
B. Accounts
C. Audit
D. Railway Board

Q10. Surplus may arise due to:

A. Recording error
B. Excess receipt
C. Measurement error
D. All

Q11. Numerical: Ledger 500 units, Physical 480 → shortage?

A. 10
B. 15
C. 20
D. 25

Q12. Numerical: Ledger 200 units, Physical 230 → surplus?

A. 20
B. 25
C. 30
D. 35

Q13. Shortage is written off when:

A. Approved by authority
B. Ignored
C. Audit disallows
D. None

Q14. Surplus is recorded at:

A. Market price
B. Ledger rate
C. Replacement cost
D. Scrap value

Q15. Shortage affects:

A. Cost
B. Profit
C. Financial statements
D. All

Q16. Numerical: Ledger ₹10,000, physical ₹9,500 → shortage?

A. ₹400
B. ₹500
C. ₹600
D. ₹700

Q17. Numerical: Ledger ₹20,000, physical ₹21,000 → surplus?

A. ₹500
B. ₹1000
C. ₹1500
D. ₹2000

Q18. Shortage due to negligence is:

A. Normal
B. Abnormal
C. Income
D. Asset

Q19. Surplus stock is treated as:

A. Income
B. Expense
C. Liability
D. Loss

Q20. Adjustment of shortage requires:

A. Approval
B. Investigation
C. Documentation
D. All

Q21. Numerical: Ledger 1000 units, shortage 50 → % shortage?

A. 2%
B. 5%
C. 10%
D. 15%

Q22. Shortage is recorded by:

A. Debit entry
B. Credit entry
C. Ignore
D. None

Q23. Surplus is recorded by:

A. Debit
B. Credit
C. Ignore
D. None

Q24. Shortage due to handling loss is:

A. Normal
B. Abnormal
C. Income
D. Liability

Q25. Shortage due to fraud is:

A. Normal
B. Abnormal
C. Income
D. Asset

Q26. Numerical: Ledger 800 units, physical 760 → shortage value @₹10?

A. ₹200
B. ₹300
C. ₹400
D. ₹500

Q27. Surplus due to wrong issue entry is:

A. Real surplus
B. Accounting error
C. Income
D. Liability

Q28. Shortage requires:

A. Adjustment
B. Write-off
C. Recovery
D. All

Q29. Surplus requires:

A. Adjustment
B. Recording
C. Investigation
D. All

Q30. Numerical: Ledger ₹50,000, physical ₹52,000 → surplus %?

A. 2%
B. 4%
C. 5%
D. 10%

Q31. Shortage beyond limit requires:

A. Approval
B. Investigation
C. Recovery
D. All

Q32. Surplus is included in:

A. Income
B. Asset
C. Liability
D. Expense

Q33. Shortage reduces:

A. Asset
B. Liability
C. Income
D. Capital

Q34. Numerical: Ledger 400 units, shortage 20 → value @₹5?

A. ₹50
B. ₹75
C. ₹100
D. ₹125

Q35. Surplus increases:

A. Asset
B. Liability
C. Expense
D. Loss

Q36. Shortage due to natural causes is:

A. Normal
B. Abnormal
C. Income
D. Asset

Q37. Shortage must be reported to:

A. Store keeper
B. Accounts
C. Higher authority
D. Vendor

Q38. Surplus must be:

A. Ignored
B. Recorded
C. Destroyed
D. Sold

Q39. Numerical: Ledger ₹30,000, shortage ₹1500 → %?

A. 2%
B. 5%
C. 10%
D. 15%

Q40. Shortage affects:

A. Profit
B. Cost
C. Inventory
D. All

Q41. Surplus indicates:

A. Error
B. Gain
C. Both
D. None

Q42. Shortage leads to:

A. Loss
B. Profit
C. Asset
D. Liability

Q43. Shortage is adjusted at:

A. Market price
B. Ledger rate
C. Replacement cost
D. Scrap value

Q44. Numerical: Ledger 100 units, physical 110 → surplus value @₹20?

A. ₹100
B. ₹200
C. ₹300
D. ₹400

Q45. Surplus is credited to:

A. Expense
B. Income
C. Liability
D. Asset

Q46. Shortage due to carelessness is:

A. Normal
B. Abnormal
C. Income
D. Asset

Q47. Surplus affects:

A. Profit
B. Cost
C. Inventory
D. All

Q48. Shortage must be:

A. Ignored
B. Investigated
C. Hidden
D. Sold

Q49. Surplus must be valued at:

A. Market price
B. Ledger rate
C. Replacement cost
D. Scrap

Q50. Shortage and surplus are part of:

A. Inventory control
B. Financial accounting
C. Costing
D. All

✅ ANSWER KEY (1–50)

1-B, 2-B, 3-B, 4-C, 5-B
6-A, 7-B, 8-A, 9-A, 10-D

11-C, 12-C, 13-A, 14-B, 15-D
16-B, 17-B, 18-B, 19-A, 20-D

21-B, 22-A, 23-B, 24-A, 25-B
26-C, 27-B, 28-D, 29-D, 30-B

31-D, 32-A, 33-A, 34-C, 35-A
36-A, 37-C, 38-B, 39-B, 40-D

41-C, 42-A, 43-B, 44-B, 45-B
46-B, 47-D, 48-B, 49-B, 50-D

April 24, 2026

appendix-IV, Stock Verification, Stores

23 April 2026

✅ PHYSICAL VERIFICATION – 50 MCQs (Railway Stores Accounting)

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✅ 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

April 23, 2026

appendix-IV, Stock Verification, Stores

22 April 2026

✅ STOCK VERIFICATION – 50 MCQs (Railway Stores Accounting)

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✅ 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

April 22, 2026

appendix-IV, Stock Verification, Stores

16 April 2026

✅ PRICING OF STORES – 100 MCQs

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✅ 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

April 16, 2026

appendix-IV, Pricing of Stores, Stores