The Sale of Goods Act is applicable in:

Related MCQs

• Mr. X sold goods to Mr. Y ask Mr. X to keep the goods with him for some time
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• Value of goods withdrawn by the proprietor for his personal use should be credited to ____
• 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 20% profit on invoice price, therefore the percentage of profit on cost comes to ______
• HO sends goods to branch at invoice price after adding 25% on cost price, so profit would be ___ % of invoice price
• Goods in transit are shown in the balance sheet at ______
• H.O. has sent goods on invoice price worth Rs 2,40,000 which are 25% above cost price. What is the loading element?
• The adjusting entry for difference between the invoice price and cost price of goods are shown in ________
• Stock and debtors system is generally used when goods are sent to the branch at _____