All items of stock in Trading and Profit and loss Account are to be converted into cost price if these are given at an _

Related MCQs

• Profit and losses can’t be ascertained because Trading and Profit and loss account can’t be prepared.
• 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 ……………
• A memorandum trading account is to be prepared to ascertained the value of stock on the date of fire.
• The removal of loading from the items of branch stock is adjusted through branch……………..Account
• Stock is considered as a liquid asset as anytime it can be converted into cash immediately.
• The normal and abnormal stock of goods doesn’t appear in branch account as the closing stock is at the…………….figure.
• A ---------- policy covers loss of stock, fixed asset, profit, expenses etc.
• IF Gross profit rate is 20% and Short Sales is Rs. 400000, then Loss of Profit on Sales will be ………..