If the Market value of closing Inventory is less than its cost price, inventory will he shown at ____

Related MCQs

• While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as
• The Market price of good declined than the cost price. Then the concept that plays a key role is ____
• The adjusting entry for difference between the invoice price and cost price of goods are shown in ________
• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• HO sends goods to branch at invoice price after adding 25% on cost price, so profit would be ___ % of invoice price
• H.O. sent goods to branch at invoice price 50% plus on original price. How many percentage of profit will be on Invoice price?
• H.O. has sent goods on invoice price worth Rs 2,40,000 which are 25% above cost price. What is the loading element?
• ____________ account is prepared to adjust the loads included in the value of opening stock and closing stock.
• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• If the opening balance of petty cash is Rs 1000, closing balance is Rs 500 and the petty cash received from HO is Rs 700, then what will be the amount of sundry expenses _____