Question

The sheet used to keep a track of the sports equipment inventory is called ____

• A. Note Sheet
• B. Audit Sheet
• C. Balance Sheet
• D. Cash Flow Statement

Hint:

Regular audits of equipment ensure transparency, accountability, and better resource management.

Answer 1

The Correct Option is B

An audit sheet is employed for the systematic tracking and verification of sports equipment inventory. Its purpose is to establish accountability, maintain a record of current stock levels, and prevent the loss or improper use of assets.
- Option (a): A note sheet serves for informal notations and communication.
- Option (c): A balance sheet provides a summary of an entity's financial assets and liabilities.
- Option (d): A cash flow statement details the movement of cash both into and out of an organization.
Consequently, an audit sheet is the appropriate instrument for inventory management.