A memorandum trading account is to be prepared to ascertained the value of stock on the date of fire.

Related MCQs

• The value of stock on the date of fire can be ascertained more precisely by preparation of a…………… Account
• If value of stock on date of fire is 429000, salvage is 1570000 then stock destroyed by fire will ………………
• If value of stock on date of fire is 420000, salvage is 1500000 then stock destroyed by fire will ………………
• If value of stock on date of fire is 420000, salvage is 10000 then stock destroyed by fire will ………………
• If value of Insurance Policy is 21000, Stock on date of Fire is 24000 and Loss of stock is 20000 then Amount of Claim for stock will be ……………
• If value of Insurance Policy is 31500, Stock on date of Fire is 36000 and Loss of stock is 27000 then Amount of Claim for stock will be ……………
• If value of Insurance Policy is 63000, Stock on date of Fire is 72000 and Loss of stock is 54000 then Amount of Claim for stock will be ……………
• Profit and losses can’t be ascertained because Trading and Profit and loss account can’t be prepared.
• The closing balance of book debts account is ascertained by preparing branch ………………Account.
• All items of stock in Trading and Profit and loss Account are to be converted into cost price if these are given at an _