Co-Operative Societies with Area of Operation More Than Two States

question 6

Multiple Choice

Co-operative societies with area of operation more than two states is registered by

• A)central government
• B)ncui
• C)central registrar
• D)rbi

---

Definitions:

Perpetual inventory method

An accounting method where inventory levels are updated in real-time with each sale and purchase, providing a continuous record of inventory balances.

Inventory method

An accounting approach used to value and manage the inventory of a business, including FIFO (First-In, First-Out), LIFO (Last-In, First-Out), and average cost methods.

Updated inventory value

The revised total cost or market value of all inventory items a company holds, adjusted for additions, subtractions, and valuation changes over a specific period.

LIFO method

Last In, First Out; an inventory valuation method where the most recently produced or purchased items are the first to be expensed.