Justify following statements and identify correct combination of statements with respect to accounts in estimation and costing:

P: They are five classes of stores that can be defined in three categories.

Q: All materials recieved are examined, counted, or weighed and entered in Measurement Book as well as in Goods Recieved Sheet (Form 10-B).

R: Issue of materials from stock should be made only on reciept of an Indent (Form-7).

Explanation:

Class or Stores

• The following four classes of stores in the P.W.D. can be distinctly grouped in two categories:

1. Tools and Plant
2. Road Metal
3. Materials
4. Stock

Goods Recieved Sheet

• ?All materials recieved are examined, counted, or weighed and entered in Measurement Book as well as in the Goods Recieved Sheet (Form 8-A), the total number or quantity entered in the Bin Card (Form 8) immediately.
• Payments for all stock recieved are made on the basis of entries recorded in Goods Recieved Sheet GRS and these are therfore treated as very important account records.
• The GRS is prepared in triplicate by carbon process in copying pencil.
• One copy is retained by Store Keeper or Overseer (S.O.). The other two are sent to Sub-Divisional Office.

Issues

Materials are issued from stock for the following purposes as indicated below.

1. For use on works by issue to contractor or direct
2. For supply to other Division or Department
3. For sale to contractor, members ofthe Department, other persons or local Bodies for which sanction of the competent authority is required.

• Issue of mnaterials from stock should be made only on receipt of an Indent (Form-7) in quadruplicate signed by Divisional or Sub-Divisional Oficer.
• An entry of the quantity of stores isued is made in all the copies of Indents received over the signature of the store keeper or S.0. and a corresponding entry is made in the Bin Card simultaneously.
• One copy of the Iadent is etained by the Store-Keeper or S.0., the second being returned at once to the Indenting Oficer, the third and the fourth copies are sent to Divisional officer for value accounting.

Additional InformationBin Cards

• Bin Cards constitute the basic quantity record maintained chronologically of stock transactions at the place where the materials are stored.
• These Cards are posted from the Goods Reccived Shect and tbo Stores Indents. Proper maintenance and safe custody of these cards should be ensured.
• As soon as a Bin Card is completed is should be returned to Divisional Office after carrying over the balance to the new Card for verifcation and record.

Priced Vocabulary of Stores

• It is a list of materials in stock with correct description and indentifying (Code) number adopted by the Department (to be used uniformally) on the basis of an up-to-date classifcation of stores to facilitate he preparation and valuation of Indents and correct posting of all transactions.
• The prescribed sub-heads of the stock accounts are(i) Building materials (i) Timber (ii) Metals (iv) Fuel (v) Painters stores (vi) House fttings (vii) Small stores (vili) Miscellancous (ix) Land kilns and (x) Manufacture.