Stock Verification Procedures
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What is the required action upon completion of the stock verification for each shop?

  • Immediately dispose of all stock sheets without review.
  • Compile a summary report without any signatures.
  • Prepare a single stock sheet for the store holder's approval.
  • Prepare the stock sheets in triplicate and obtain the store holder's signature. (correct)

    • How often should the balance of logs on hand be verified by the Accounts Department?

  • Once a month.
  • At the request of the Officer-in-Charge.
  • Once every two years. (correct)
  • Every year.

    • What does the formula for cubical contents of round timber logs require from the log measurements?

  • Only the girth measurement is needed.
  • Girth should be taken at the shortest part of the log.
  • Length and girth must exclude any bark, knots, or abnormalities. (correct)
  • Length must be measured from the end of the log with bark only.

    • What should be done before adjusting any large discrepancies in stock verification?

    <p>Examine the ledgers for potential posting or balancing errors.</p> Signup and view all the answers

    What allowance is made when measuring girth over the bark of a log?

    <p>A bark allowance of 22 mm per 30 cm of girth.</p> Signup and view all the answers

    What should the Stock Verifiers do if there is a difference in measurements of coal stacks?

    <p>Measure the stacks jointly with Loco Foremen and note the differences.</p> Signup and view all the answers

    How should the average height and breadth of coal stacks be calculated?

    <p>Total measurements of breadth and height divided by the number of readings.</p> Signup and view all the answers

    Which coal conversion rate is associated with Selected A?

    <p>1.17</p> Signup and view all the answers

    What action should be taken if the quantity of coal does not match the daily abstracts and is not noted by the Foreman?

    <p>Notify the Accounts Officer regarding the issue.</p> Signup and view all the answers

    Which of the following coal grades has the highest conversion rate?

    <p>Hard Coke</p> Signup and view all the answers

    What is the purpose of verifying the stock of stores and coal by Stock Verifiers?

    <p>To ensure accurate inventory for accounting purposes.</p> Signup and view all the answers

    Which method is not used for surveying coal stacks?

    <p>Calculating weights based on temperature variations.</p> Signup and view all the answers

    What should be done if the difference between the book balance and the actual measurement is found to be over 2%?

    <p>Adjust the book balance accordingly.</p> Signup and view all the answers

    Who is responsible for keeping a record of errors discovered in the verification process?

    <p>Stores Accounts Officer</p> Signup and view all the answers

    What is the primary purpose of the stock verification report prepared by the Stock Verifier?

    <p>To verify the accuracy of stored items.</p> Signup and view all the answers

    What must the Stock Verifier obtain from the stores holder on all copies of the stock verification report?

    <p>A signature.</p> Signup and view all the answers

    What is the role of the Divisional Officer concerning the stock verification report?

    <p>To countersign and retain the triplicate copy.</p> Signup and view all the answers

    In the event of discrepancies, what is expected from the store holder regarding the stock verification report?

    <p>To record explanations for discrepancies on both copies.</p> Signup and view all the answers

    What should be done with the original copies of the stock verification reports?

    <p>They should be forwarded to the Stores Accounts Officer.</p> Signup and view all the answers

    What signifies 'charged off' stocks in the Engineering Department's stores verification?

    <p>Stocks that are billed to a project.</p> Signup and view all the answers

    Who countersigns the duplicate copy of the stock verification report?

    <p>Divisional Officer</p> Signup and view all the answers

    What should be checked for 'charged off' stores during verification?

    <p>The balance at the date of verification</p> Signup and view all the answers

    What is the purpose of transcribing verification results into a stock sheet?

    <p>To submit it for signature as a token of acceptance</p> Signup and view all the answers

    Which point is NOT required during the verification of workshop stores?

    <p>Replacement of all surplus materials immediately</p> Signup and view all the answers

    What must be done if surplus materials are found after work orders are completed?

    <p>They should be returned to the Stores Department without delay</p> Signup and view all the answers

    How should machinery, tools, and plant inventories be maintained?

    <p>Proper inventories must be kept except for small tools</p> Signup and view all the answers

    What precaution is necessary regarding valuable stores and fittings?

    <p>They should be kept in locked sheds to prevent pilfering</p> Signup and view all the answers

    What should be considered regarding materials kept in the open?

    <p>They need protection against weather effects</p> Signup and view all the answers

    What should be investigated at the time of stock verification concerning small tools?

    <p>The methods of supply and custody in shops</p> Signup and view all the answers

    Which of the following actions is advised against during workshop verification?

    <p>Accumulating excessive materials</p> Signup and view all the answers

    What is the purpose of the 'Imprest Score' in the context of stores management?

    <p>To be used in emergencies only.</p> Signup and view all the answers

    What type of account should be maintained for charged off stores during verification?

    <p>Regular accounts of materials not utilized</p> Signup and view all the answers

    Which form is used for recording particulars of each item of stores?

    <p>Form S. 3314</p> Signup and view all the answers

    How should receipts and issues be represented in the stock verification process?

    <p>Deducted from and added to the total for comparison.</p> Signup and view all the answers

    What classification should be made for the materials in the Register?

    <p>By kind of account.</p> Signup and view all the answers

    Why is it convenient to check materials at headquarters stations before proceeding to other locations?

    <p>It simplifies the verification process.</p> Signup and view all the answers

    What should be recorded by the stock holder after verification?

    <p>A certificate that all materials have been verified.</p> Signup and view all the answers

    In the verification process, what is noted down in the subdivisions of Column (4)?

    <p>Quantity of each kind of stores.</p> Signup and view all the answers

    What does the Stock Verifier need to do with the quantities of non-charged off stores?

    <p>Total the quantities and adjust for recent issues and receipts.</p> Signup and view all the answers

    Which option best describes the role of the Stock Verifier?

    <p>To ensure accuracy in stock records and verify materials.</p> Signup and view all the answers

    What is the consequence of entering incorrect quantities in the Register for stock verification?

    <p>Potential financial discrepancies.</p> Signup and view all the answers

    What must be included in the Stock Verification Reports regarding 'charged off' stores?

    <p>Details of discrepancies found during verification.</p> Signup and view all the answers

    When should a Stock Verifier report to the Stores Account Officer?

    <p>If the required records are not ready.</p> Signup and view all the answers

    What should a Stock Verifier do if no record of stores is required to be kept?

    <p>Request the Executive Officer for guidance.</p> Signup and view all the answers

    What action should be taken if records required for verification are not completed?

    <p>Delay the stock-taking until the records are ready.</p> Signup and view all the answers

    What information must be recorded by the Stock Verifier at the end of each verification?

    <p>The number of items belonging to each Stockholder.</p> Signup and view all the answers

    Who is the primary responsibility of ensuring that stock is taken periodically if no records are kept?

    <p>Executive Officers.</p> Signup and view all the answers

    What is required on the field books of Verifiers during stock verification?

    <p>A signed certificate by the subordinate-in-charge.</p> Signup and view all the answers

    What should the Stock Verifiers do if they find discrepancies in the measurements of coal stacks?

    <p>Measure the stacks jointly with the Loco Foremen and note contract measurements.</p> Signup and view all the answers

    What is the weight conversion rate for Grade II coal from Talcher?

    <p>1.16</p> Signup and view all the answers

    What should be reported to the Accounts Officer when discrepancies in coal quantity arise?

    <p>The lack of recording the difference by the Foreman should be specifically noted.</p> Signup and view all the answers

    What is a key factor when verifying complete stocks of coal?

    <p>Agreed measurements should match the ones recorded by Loco Foremen.</p> Signup and view all the answers

    Which coal type has the highest conversion rate according to the provided rates?

    <p>Hard Coke</p> Signup and view all the answers

    What should be done with the measurements taken during coal stack verification?

    <p>Contract measurements should be documented after joint measurement.</p> Signup and view all the answers

    What conversion rate is applicable for Soft Coke?

    <p>1.045</p> Signup and view all the answers

    Which of the following statements best reflects the procedure in verifying coal stocks?

    <p>The measurement process must include both parties and be documented accurately.</p> Signup and view all the answers

    What measurement approach should be taken to verify logs according to the guidelines?

    <p>Conduct a complete measurement and reconcile with the register.</p> Signup and view all the answers

    Which of the following factors is NOT considered when measuring girth?

    <p>Knots present at the measurement point must be included.</p> Signup and view all the answers

    When calculating the volume of round timber logs, which unit conversion is applied?

    <p>Fractions of a foot over 150 mm are considered as a full foot.</p> Signup and view all the answers

    What is the minimum percentage of logs that should be measured during stock verification?

    <p>10 percent of the total stock.</p> Signup and view all the answers

    Which statement regarding the storage of logs is accurate when verifying timber?

    <p>Logs must be stored in a way that allows easy access for measurement.</p> Signup and view all the answers

    What must be recorded by the stock holder on the Register after the stock verification is completed?

    <p>A certificate that all material have been produced for verification</p> Signup and view all the answers

    Why is it recommended to check materials at headquarters stations before verifying those along the section?

    <p>It minimizes the risk of discrepancies by ensuring centralized oversight.</p> Signup and view all the answers

    What additional actions should be taken for non-charged off stores during the verification process?

    <p>Total quantities should be longitudinally totaled and reconciled with transaction records.</p> Signup and view all the answers

    How should separate pages be organized in the records for different categories of materials?

    <p>Separated by account type and further subdivided for work.</p> Signup and view all the answers

    What specific detail should be recorded in the manuscript register for each item under Form S. 3314?

    <p>Exact particulars in the prescribed order</p> Signup and view all the answers

    What should be done with the quantities in Column (4) during the verification process?

    <p>They need to be noted down exactly as described in the materials account.</p> Signup and view all the answers

    When reconciling the account of non-charged off stores, what should be done with the issues between the first of the month and the verification date?

    <p>They should be included in the total for comparison with the opening balance.</p> Signup and view all the answers

    Which of the following is NOT a focus when the Stock Verifier documents materials during the verification process?

    <p>The expected delivery dates of future materials</p> Signup and view all the answers

    What is expected from the Stock Verifier regarding the authority of recorded materials?

    <p>They must verify authority for all materials and cross-reference with headquarters.</p> Signup and view all the answers

    What action is taken if discrepancies are found during the stock verification process?

    <p>Further investigation is conducted before finalizing results.</p> Signup and view all the answers

    What action should the Stock Verifier take if the actual measurement exceeds the book balance by more than 2%?

    <p>Adjust the book balance to match the actual measurement.</p> Signup and view all the answers

    Which individual is responsible for countersigning the triplicate copy of the stock verification report?

    <p>Divisional Officer</p> Signup and view all the answers

    In the stock verification process, how many copies of the report should the Stock Verifier prepare?

    <p>Three copies</p> Signup and view all the answers

    Which person is tasked with keeping a record of errors discovered during verification?

    <p>Inspector of Stores Accounts</p> Signup and view all the answers

    After the stock verification is completed, who must the store holder forward the report to?

    <p>The Divisional Officer</p> Signup and view all the answers

    What must be included in the stock verification report regarding discrepancies?

    <p>The stock holder's justifications for the discrepancies</p> Signup and view all the answers

    What classification must be made for the materials in the Register during verification?

    <p>Categorization into charged and non-charged stocks</p> Signup and view all the answers

    Which document must the Engineering Subordinate submit for the verification of charged off stocks?

    <p>Materials-at-site account</p> Signup and view all the answers

    What is the required follow-up action for the Senior Inspector upon receiving reports from the Divisional Officer?

    <p>Enter them in a register and handle them accordingly.</p> Signup and view all the answers

    Study Notes

    Stock Verification of Stores on Lines

    • Stock verification reports should only document "charged-off" stores, tools, and plant with discrepancies.
    • A signed certificate from the subordinate in charge of the stores/tools/plant must accompany the report, confirming all items were shown to the stock verifier.
    • The total number of verified items should be noted on the last sheet of the report.
    • Stock verifier duties primarily involve verifying stores/tools/plant against records.
    • Distinctions should be made between verification of stores/tools/plant with maintained records by the executive and those without maintained records.
    • If records are not ready, the stock verifier should report via telegram to the Stores Account Officer and the executive officer, delaying the stock-taking until the records are complete.
    • Stock-taking of stores without required records is the responsibility of the executive and accounts officers.
    • Running sheds and train examining stations stock verification follows the same procedure used for depot verification.
    • Coal verification involves measuring coal stacks' breadth and height, calculating average dimensions, and obtaining joint measurements with loco foremen in case of discrepancies.
    • Stock verifiers must calculate the cubical contents of coal stacks to determine weights.
    • Fuel conversion rates are provided for different coal types (Steam Coal, Bengal and Bihar Coal, C.L.C., Pench and Chanda, Talcher, Assam, Singarene).
    • Coal quantity discrepancies are reported to the accounts officer.
    • Stock verifiers should also check previous stock records for completeness.
    • Differences between book balances and actual measurements less than 2% require only a notation in the report; significant discrepancies require adjustments to the book balance.
    • Stock sheets should be prepared in triplicate.
    • Subordinates must sign to confirm accuracy.
    • Stock verification of workshop stores requires checking "charged off" stores not used and excess materials.
    • Stores should be appropriately stored with safekeeping.
    • Timber verification involves inspection and serial numbering of logs, followed by periodic verification (every 2 years) by either counting or measuring.
    • Cubical contents are calculated using a formula (V=L(G/4)^2; L=Length, G=Girth)
    • If square logs are verified, their average breadth and thickness are taken into account. Stock balances should agree within 5%.
    • Stock verifiers should use existing shop measurement methods.
    • Cubic measurements for different timber types are specified in Appendix XII.
    • Type and form verification in printing presses and stationery depots is performed every three years, typically when stock volumes are moderate.
    • The rules of stores depot verification apply to form verification.
    • Authorisation is required for adjustments to the stock account for excesses or shortages in material, with no relaxation in terms of investigation for discrepancies.
    • Railway board approval is required for loss exceeding Rs.50,000.
    • Losses due to negligence, carelessness or dishonesty of employees should be fully investigated.

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    Related Documents

    Stock Verification of Stores on Lines - PDF

    Description

    This quiz covers the essential procedures for stock verification of stores, tools, and plant. Participants will learn about the requirements for documentation, the responsibilities of stock verifiers, and the differences in handling verified and unverified records. It is designed for those involved in inventory management and stock control.

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