GENERAL KNOWLEDGE

Detailed explanation-1: -Shrinkage is an accounting term used to describe when a store has fewer items in stock than in its recorded book inventory. Factors contributing to shrinkage include employee theft, shoplifting, administrative errors, vendor fraud, product damage, and more.

Detailed explanation-2: -What Are the Causes of Shrinkage? Shrinkage is caused from the loss of inventory due to shoplifting, administrative error, employee theft, vendor fraud, broken items, among others.

Detailed explanation-3: -Shrinkage is an accounting term used to describe when a store has fewer items in stock than in its recorded book inventory. Factors contributing to shrinkage include employee theft, shoplifting, administrative errors, vendor fraud, product damage, and more.

Detailed explanation-4: -Categorised as inventory waste, the four major types of inventory shrinkage are shop-lifting, theft by employees, clerical errors and supplier fraud.