ECONOMICS

Detailed explanation-1: -A bin card is a quantitative record of receipts, issues, and closing balance of each item of stores. For every item of material, separate bin cards are kept.

Detailed explanation-2: -Bin card is maintained in store for each of the item. It records in and out quantity of the item. Bin card is kept for recording the inward and outward of material. This shows the availability of stock of each item.

Detailed explanation-3: -Answer & Solution Solution: Bin Card is a quantitative record of material received, issued and balance.

Detailed explanation-4: -Bin cards, sometimes called inventory or stock cards, are record-keeping documents used in retail and other businesses requiring stock room. They always maintain an accurate count of a company’s available stock. A table with general stock item information is typically included on bin cards.

Detailed explanation-5: -A bin card is not considered an accounting record; it simply informs the storekeeper of the quantities of each item on hand.