Import duty of raw material purchased is a

Related MCQs

• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• Goods purchased from Mr. A but wrongly entered in the account of Mr. B. The rec tification of error will result in
• Cost of goods purchased for resale is an example of
• When goods are purchased for the joint venture, the account to be debited is