alleryStart learning →Which inventory system keeps records showing stock on hand at all times?
APhysical count only
BPerpetual system
CPeriodic system
DRetail estimation
Answer & Solution
Correct answer: B. Perpetual system
A perpetual system updates a ledger account for each item whenever stock is added or issued.
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Related questions
The ABC concept is based on whose law?An item needs 500 units a year at Rs 40 each. What is its annual usage value?After computing usage values, items are arranged in which order?In ABC analysis, how is an item's annual usage value computed?ABC class thresholds are what?Class B holds 30% of items. About what share of annual consumption value does it hold?Half of all items fall in class C. Roughly what share of consumption value do they hold?ABC analysis resembles which principle, where few items carry most value?