A trader calculated his profit as Rs.150000 on 31/03/2014. It is an

Related MCQs

• A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated.
• A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?
• Profit and loss is calculated at the stage of
• As per the Matching concept, Revenue – ? = Profit