take stock meaning?

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What is the meaning of "to take stock" idiom?
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Idiom Scenario 1:


Bill's Used Cars had a great year of business.  Bill sold many cars and bought many more.  At the end of the year Bill's accountant, Fred, informed Bill that it was that time of the year again when he must take inventory of all the cars and tools and office equipment and supplies that Bill's Used Cars owned.  Fred told Bill that...
"It is time for stock taking, again, Bill."
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Idiom Definition:


"to take stock"
for a business - to physically count and record all the items that the business owns
for a person - to reflect on the state of your life, to examine the sum total of your possessions, relationships, accomplishments and goals to the present time.
for a situation - to analyze all the factors involved in the situation usually in order to make a decision regarding the situation
 
Synonyms:
account, catalogue, file, index, itemize, record, register, roll, roster, summary, tabulation
 
Synonyms:
assess, consider, contemplate, deliberate, meditate, mull, muse, ponder, reflect, study, think, weight
 
Synonyms:
assay, evaluate, inspect, interpret, investigate, judge, scrutinize, sort, study, test
 
 
 
 
This man is literally taking stock. - - - - ->  an african american man is counting items ona shelf and holding a clipboard.
 


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Idiom Scenario 2:

Perhaps after reviewing his life, James will decide to go on the wagon and begin to rebuild his broken life.
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Idiom Scenario 3:

[audioidiom]idiom/audio_take-stock-scen03.ogg" type="audio/ogg"> take stock of his life and make some changes in his behavior."
Perhaps after reviewing his life, James will decide to go on the wagon and begin to rebuild his broken life.
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Idiom Scenario 3:

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After a two week vacation in Aruba, Ned and Grace return home to find that a water pipe has burst and flooded their house.  There is water everywhere and pieces of furniture are floating in the water.  Poor Ned is very agitated and disturbed and can not decide what to do or where to begin to improve the situation.  Grace tells Ned that... 
"We need to take stock of the situation."
Ned and Grace will analyze all the damage, check each room, find and study their insurance papers and then make a decision on the best course of action.
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Idiom Usage:

The usage of to take stock meaning " to take inventory" (Idiom Scenario 1)is not as common as it once was.
The use of to take stock as in Idiom Scenario 2 and Idiom Scenario 3 is much more common.
 
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Gerund Form of the Idiom:

Taking stock means a great deal of counting.
Taking stock of your life can cause you to decide to change some parts of your life.
Taking stock of a situation means to examine all the factors involved.

 
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Idiom Conjugations:

 
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