Retail Management - Qp10

10 Questions | Total Attempts: 18

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Retail Management Quizzes & Trivia

Questions and Answers
  • 1. 
    Stock is taken to find out what stock there is and why it is held.
    • A. 

      True

    • B. 

      False

  • 2. 
    The results of a stocktake will show you immediately whether you are trading at a loss or profit.
    • A. 

      True

    • B. 

      False

  • 3. 
    The following steps should be taken in preparing for a stocktake:  (Select five)
    • A. 

      Decide your stocktaking date a day or two in advance.

    • B. 

      Advise your staff of your stocktaking dates so that they can plan their holiday/vacation and you can ensure that you will have the necessary people present on the stocktake date.

    • C. 

      Draw up a plan of your trading area and storage areas.

    • D. 

      During the two or three days prior to your stocktake have your staff tidy up the various areas.

    • E. 

      Advise your shoppers that you will be taking stock on a particular date

    • F. 

      In order to expedite counting on the day of the stocktake you may wish to group your bulk items into manageable units.

  • 4. 
    During the stocktake sweep the floors to ensure that the area is tidy and free of litter.
    • A. 

      True

    • B. 

      False

  • 5. 
    Generally, do put more than one person onto a particular area as this causes confusion.
    • A. 

      True

    • B. 

      False

  • 6. 
    Although very tedious it is recommended that a second count take place.
    • A. 

      True

    • B. 

      False

  • 7. 
    The following areas are considered "dangerous" in that they are often miscounted or inaccurately described:  (Select three)
    • A. 

      Jugs that carry deposits.

    • B. 

      Ensure that your selling prices are correct

    • C. 

      Sweets can present problems.

    • D. 

      Random weights.

  • 8. 
    Every retailer, be he an accountant/bookkeeper or not, should be able to work out his own stock calculation. The basic formula is: Opening stock figure MINUS purchases DIVIDE sales and closing stock figure
    • A. 

      True

    • B. 

      False

  • 9. 
    If your shrinkage figure or overage is of significantly high proportions you may be justified to hold another stocktake immediately.
    • A. 

      True

    • B. 

      False