Closing stock is valued at A. Cost B. Market value C. Cost or market price whichever is lower D. None of the above

Closing stock is valued at
A. Cost
B. Market value
C. Cost or market price whichever is lower
D. None of the above
by

1 Answer

Answer :

C. Cost or market price whichever is lower
by

Related questions

Closing Stock is valued at cost or market price whichever is more.

Description : Closing Stock is valued at cost or market price whichever is more.

Last Answer : State True or False with reason : Closing Stock is valued at cost or market price whichever is more.

At what price the stock is valued under conventional method ? (A) At cost price (B) At market price (C) At cost price or market price whichever is lower (D) At cost price or market price whichever is higher

Description : At what price the stock is valued under conventional method ? (A) At cost price (B) At market price (C) At cost price or market price whichever is lower (D) At cost price or market price whichever is higher

Last Answer : Answer: At cost price or market price whichever is lower

Closing stock is always valued at cost or market price which is ___________ 

Description : Closing stock is always valued at cost or market price which is ___________ 

Last Answer : Closing stock is always valued at cost or market price which is ___________ (a) more (b) less (c) zero (d) equal

Valuation of stock in accounting follows the principle of cost price or ____ which ever is lower. a) Market Price b) Average Price c) Net realizable Value d) None of these.

Description : Valuation of stock in accounting follows the principle of cost price or ____ which ever is lower. a) Market Price b) Average Price c) Net realizable Value d) None of these.

Last Answer : c) Net realizable Value

If the Market value of closing Inventory is less than its cost price, inventory will he shown at ____ a) Marketable value b) Fair Market value c) Both d) none

Description : If the Market value of closing Inventory is less than its cost price, inventory will he shown at ____ a) Marketable value b) Fair Market value c) Both d) none

Last Answer : a) Marketable value

According to the Accounting Standard (AS)-2, the inventory is to be valued at which one of the following ? (A) Actual cost or sales value, whichever is lower (B) Historical cost (C) Net realizable value (D) Historical cost or net realizable value, whichever is lower

Description : According to the Accounting Standard (AS)-2, the inventory is to be valued at which one of the following ? (A) Actual cost or sales value, whichever is lower (B) Historical cost (C) Net realizable value (D) Historical cost or net realizable value, whichever is lower

Last Answer : Answer: Historical cost or net realizable value, whichever is lower

Which accounting concept specifies thepractice of crediting closing stock to the trading account? a) Cost b) Realisation c) Going concern d)Matching

Description : Which accounting concept specifies thepractice of crediting closing stock to the trading account? a) Cost b) Realisation c) Going concern d)Matching

Last Answer : d)Matching

Assessee is having stock existing in the business. Valuation of the stock will be at : a) Cost b) Market Price c) Cost or MRP whichever is less d) Cost or MRP whichever is high

Description : Assessee is having stock existing in the business. Valuation of the stock will be at : a) Cost b) Market Price c) Cost or MRP whichever is less d) Cost or MRP whichever is high

Last Answer : c) Cost or MRP whichever is less

During a merger and acquisition transaction, the ability to find and use good comparable data for a valuation is relatively ____________. a) easy because each successful company within an industry uses the same ratios b) easy because public stock price fluctuation is not sufficient or erratic enough to make a difference c) difficult because book value is adjusted in small companies as FIFO is the method of choice and in public companies’ book value is static due to LIFO d) difficult because size differential, management depth, product diversity and access to lines of credit seldom match the company being valued

Description : During a merger and acquisition transaction, the ability to find and use good comparable data for a valuation is relatively ____________. a) easy because each successful company within an industry ... depth, product diversity and access to lines of credit seldom match the company being valued

Last Answer : d) difficult because size differential, management depth, product diversity and access to lines of credit seldom match the company being valued

The shares received from the new company is recorded at (A) Face value (B) Market value (C) Average price (D) None of these

Description : The shares received from the new company is recorded at (A) Face value (B) Market value (C) Average price (D) None of these

Last Answer : (B) Market value

Shares received from the new company are recorded at - (A)Face value (B)Average price (C)Market value (D)None of the above

Description : Shares received from the new company are recorded at - (A)Face value (B)Average price (C)Market value (D)None of the above

Last Answer : (C)Market value

While calculating purchase price, the following values of assets are considered (A)Book value (B)New values fixed (C)Average values (D)Market values

Description : While calculating purchase price, the following values of assets are considered (A)Book value (B)New values fixed (C)Average values (D)Market values

Last Answer : (B)New values fixed

The Market price of good declined than the cost price. Then the concept that plays a key role is ____ a) Materiality b) Going concern concept c) Realization d) Consistency

Description : The Market price of good declined than the cost price. Then the concept that plays a key role is ____ a) Materiality b) Going concern concept c) Realization d) Consistency

Last Answer : c) Realization

Gross National Product at market prices of an economy is ₹ 65 , 000 crores . The capital stock of the economy is valued at ₹ 1, 20 , 000 crores , whic

Description : Gross National Product at market prices of an economy is ₹ 65 , 000 crores . The capital stock of the economy is valued at ₹ 1, 20 , 000 crores , whic

Last Answer : Gross National Product at market prices of an economy is ₹ 65 , 000 crores . The capital ... 000 crores . Estimate National Income of the economy.

Historical cost concept requires the valuation of an asset at A] Original cost B] Replacement value C] Net realizable value D] Market value

Description : Historical cost concept requires the valuation of an asset at A] Original cost B] Replacement value C] Net realizable value D] Market value

Last Answer : A] Original cost

Cost concept basically recognises ____ a) Fair Market value b) Historical cost c) Realisable value d) Replacement cost

Description : Cost concept basically recognises ____ a) Fair Market value b) Historical cost c) Realisable value d) Replacement cost

Last Answer : b) Historical cost

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) Money measurement (b) Conservatism (c) Consistency (d) None of these

Description : 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 ... is violated. (a) Money measurement (b) Conservatism (c) Consistency (d) None of these

Last Answer : (b) Conservatism

Which of the following statement is correct? A. Fixed assets must always be shown at market value B. Book-keeping and accounting are different terms C. Owner's Equity = Assets + Liabilities D. Patents is an example of current asset

Description : Which of the following statement is correct? A. Fixed assets must always be shown at market value B. Book-keeping and accounting are different terms C. Owner's Equity = Assets + Liabilities D. Patents is an example of current asset

Last Answer : A. Fixed assets must always be shown at market value

Which of the following is not included in the assumption on which Myron Gorden proposed a model on Stock valuation A. Retained earning the only source of financing B. Finite Life of the firm C. Taxes do not exist D. Constant rate of return on firms investment.

Description : Which of the following is not included in the assumption on which Myron Gorden proposed a model on Stock valuation A. Retained earning the only source of financing B. Finite Life of the firm C. Taxes do not exist D. Constant rate of return on firms investment.

Last Answer : B. Finite Life of the firm

Stock is A. Included in the category of fixed assets B. Part of current assets C. Intangible D. Tangible

Description : Stock is A. Included in the category of fixed assets B. Part of current assets C. Intangible D. Tangible

Last Answer : B. Part of current assets

Which is not the form of dividend? A. Regular B. Stock C. Property D. Zero Dividend

Description : Which is not the form of dividend? A. Regular B. Stock C. Property D. Zero Dividend

Last Answer : D. Zero Dividend

Which is the form of dividend? A. Cash dividend B. Bond dividend C. Stock dividend D. All of these

Description : Which is the form of dividend? A. Cash dividend B. Bond dividend C. Stock dividend D. All of these

Last Answer : D. All of these

While calculating purchase consideration ............... values of assets is to be considered. (A) Book value (B) Revalued price (C) Average price (D) Capital

Description : While calculating purchase consideration ............... values of assets is to be considered. (A) Book value (B) Revalued price (C) Average price (D) Capital

Last Answer : (B) Revalued price

Which of the following statement is correct? (A)The amount of Goodwill or Capital Reserve is found out in the books of purchasing company only (B)The amount of Goodwill or Capital Reserve is found out in the books of vendor company only. (C)Goodwill = Net Assets –Purchase price (D)The face value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Description : Which of the following statement is correct? (A)The amount of Goodwill or Capital Reserve is found out in the books of purchasing company only (B)The amount of Goodwill or ... face value of shares of purchasing company will be taken in to account while calculating purchase consideration.

Last Answer : (A)The amount of Goodwill or Capital Reserve is found out in the books of purchasing company only

The minimum share Application money is -----------. A. 5% of the face value of shares B. 10% of the issue price of shares C. Re. 1 per share D. 15% of the face value of shares

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Last Answer : A. 5% of the face value of shares

Calculate value of closing stock from the following: Opening stock of finished goods (500 units) : Rs. 2,000 Cost of production (10000 units) : Rs. 50,000Closing stock (1000 units):? (a) Rs. 4,000 (b) Rs. 4,500 (c) Rs. 5,000 (d) Rs. 6,000

Description : Calculate value of closing stock from the following: Opening stock of finished goods (500 units) : Rs. 2,000 Cost of production (10000 units) : Rs. 50,000Closing stock (1000 units):? (a) Rs. 4,000 (b) Rs. 4,500 (c) Rs. 5,000 (d) Rs. 6,000

Last Answer : (b) Rs. 4,500

In order to find out the value of the closing stock during the end of the financial year we, A) do this by stocktaking B) deduct the cost of goods sold from sales C) deduct opening stock from the cost of goods sold D) look in the stock account

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Last Answer : Answer: A

Goods withdrawn by the proprietor for his personal use are A. Shown as a deduction from the purchases B. Shown as a deduction from the sales C. Treated as sales at cost price D. Added to the purchases

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Last Answer : A. Shown as a deduction from the purchases

New entrepreneurs entering the field of medium industry for the first time can have market studies with the subsidiary of ___________. A. 75% of the cost or Rs.15000 whichever is less. B. 75% of the cost or Rs.15000 whichever is high C. 50% of the cost or Rs.15000 whichever is less. D. 50% of the cost or Rs.15000 whichever is high

Description : New entrepreneurs entering the field of medium industry for the first time can have market studies with the subsidiary of ___________. A. 75% of the cost or Rs.15000 whichever is less. B. 75% of the cost or ... the cost or Rs.15000 whichever is less. D. 50% of the cost or Rs.15000 whichever is high

Last Answer : A. 75% of the cost or Rs.15000 whichever is less.

How is a house valued in probate The apprasial amount or Market value Balance of mortgage is $127,000. Can the spouse buy out the adult children ?

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Last Answer : The home should be valued at "fair market value", which is the value that a willing buyer and willing seller would set the house at, assuming they each knew all applicable facts. The spouse can buy out the adult children under some circumstances.

Discounted cash flow criteria for investment appraisal does not include A. Not present value B. Benefit cost ratio C. Accounting rate of return D. Internal rate of return

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Last Answer : B. Benefit cost ratio

A type of core store that has a lower access time than the devices used for working store in the same processor is known as a. Core memory b. Buffer c. Fast core d. Address register

Description : A type of core store that has a lower access time than the devices used for working store in the same processor is known as a. Core memory b. Buffer c. Fast core d. Address register

Last Answer : d. Address register

The first firm to mass-market a microcomputer as a personal computer was a. IBM b. Super UNIVAC c. Radio Shaks d. Data General Corporation

Description : The first firm to mass-market a microcomputer as a personal computer was a. IBM b. Super UNIVAC c. Radio Shaks d. Data General Corporation

Last Answer : c. Radio Shaks

When was the world’s first laptop computer introduced in the market and by whom? a. Hewlett-Packard b. Epson, 1981 c. Laplink traveling software Inc. 1982 d. Tandy model-2000, 1985

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Last Answer : b. Epson, 1981

Suppliers and creditors of a firm are interested in A. Profitability position B. Liquidity position C. Market share position D. Debt position

Description : Suppliers and creditors of a firm are interested in A. Profitability position B. Liquidity position C. Market share position D. Debt position

Last Answer : B. Liquidity position

Reasons for adopting globalisation A. Profit advantage B. Growth Opportunity C. Domestic Market Constraints D. Spin off benefits

Description : Reasons for adopting globalisation A. Profit advantage B. Growth Opportunity C. Domestic Market Constraints D. Spin off benefits

Last Answer : D. Spin off benefits

Globalisation means A. Adopting a global outlook for business B. Inviting multinationals in the country C. Selling in the foreign market D. All of the above

Description : Globalisation means A. Adopting a global outlook for business B. Inviting multinationals in the country C. Selling in the foreign market D. All of the above

Last Answer : A. Adopting a global outlook for business

Which one is not an element of internal environment? A. Marketing capabilities B. Operational Capabilities C. Money and capital market D. Personal Capabilities

Description : Which one is not an element of internal environment? A. Marketing capabilities B. Operational Capabilities C. Money and capital market D. Personal Capabilities

Last Answer : C. Money and capital market

Which among the following is not the instrument of monetary policy A. Deficit financing B. Statutory liquidity Ratio C. Cash reserve ratio D. Open market operation

Description : Which among the following is not the instrument of monetary policy A. Deficit financing B. Statutory liquidity Ratio C. Cash reserve ratio D. Open market operation

Last Answer : A. Deficit financing

Which among these can be condition for the success of privatisation? A. Alternative institutional arrangements B. Barriers to enter the market C. Measurability of performance D. All of the above

Description : Which among these can be condition for the success of privatisation? A. Alternative institutional arrangements B. Barriers to enter the market C. Measurability of performance D. All of the above

Last Answer : B. Barriers to enter the market

Calculate the value of closing stock from the following according to LIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 Issues: 2nd January, 2014: 30 units 18th January, 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700

Description : Calculate the value of closing stock from the following according to LIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 ... , 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700

Last Answer : (b) Rs. 805

Calculate the value of closing stock from the following according to FIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 Issues: 2nd January, 2014: 30 units 18th January, 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700

Description : Calculate the value of closing stock from the following according to FIFO method: 1st January, 2014: Opening balance: 50 units @ Rs. 4 Receipts: 5th January, 2014: 100 units @ Rs. 5 12th January, 2014: 200 units @ Rs. 4.50 ... , 2014: 150 units (a) Rs. 765 (b) Rs. 805 (c) Rs. 786 (d) Rs. 700

Last Answer : (a) Rs. 765

In case of rising prices (inflation), LIFO will: (a) provide lowest value of closing stock and profit (b) provide highest value of closing stock and profit (c) provide highest value of closing stock but lowest value of profit (d) provide highest value of profit but lowest value of closing stock

Description : In case of rising prices (inflation), LIFO will: (a) provide lowest value of closing stock and profit (b) provide highest value of closing stock and profit (c) provide highest value ... but lowest value of profit (d) provide highest value of profit but lowest value of closing stock

Last Answer : (a) provide lowest value of closing stock and profit

In case of rising prices (inflation), FIFO method will: (a) provide lowest value of closing stock and profit (b) provide highest value of closing stock and profit (c) provide highest value of closing stock but lowest value of profit (d) provide highest value of profit but lowest value of closing stock

Description : In case of rising prices (inflation), FIFO method will: (a) provide lowest value of closing stock and profit (b) provide highest value of closing stock and profit (c) provide highest value ... stock but lowest value of profit (d) provide highest value of profit but lowest value of closing stock

Last Answer : (b) provide highest value of closing stock and profit

Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods – opening stock of finished goods – total expenditure on raw material – intermediate goods (b) Value added = total sales + closing stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods (c) Value added = total sales + closing stock of finished goods and semi-finished goods-opening stock of finished goods and semi finished goods-total expenditure on raw material (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

Description : Which of the following statement is true? (a) Value added = total sales + closing stock of finished goods - opening stock of finished goods - total expenditure on raw material - intermediate ... stock of finished goods and semi finished goods - total expenditure on raw material - intermediate goods.

Last Answer : (d) Value added = total sales + closing stock of finished goods and semi finished goods – opening stock of finished goods and semi finished goods – total expenditure on raw material – intermediate goods.

As per SEBI Guideline minimum Application money shall not be less than A. 25% of Issue price B. 10% of Issue price C. 20% of Issue price D. 6% of Issue price

Description : As per SEBI Guideline minimum Application money shall not be less than A. 25% of Issue price B. 10% of Issue price C. 20% of Issue price D. 6% of Issue price

Last Answer : A. 25% of Issue price

Which one is not the main objective of Fiscal Policy in India? A. To increase liquidity in economy B. To promote price stability C. To minimize the inequalities of income and wealth D. To promote employment opportunities

Description : Which one is not the main objective of Fiscal Policy in India? A. To increase liquidity in economy B. To promote price stability C. To minimize the inequalities of income and wealth D. To promote employment opportunities

Last Answer : A. To increase liquidity in economy

Which among these is not a restrictive trade practice? A. Tie Up sales B. Price Discrimination C. Manipulation of Price D. All are restrictive trade practice

Description : Which among these is not a restrictive trade practice? A. Tie Up sales B. Price Discrimination C. Manipulation of Price D. All are restrictive trade practice

Last Answer : C. Manipulation of Price

When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000

Description : When sale is Rs. 4,80,000, gross loss is 25% on cost, purchase is Rs. 3,50,000 and closing stock is Rs. 60,000, the stock in the beginning would be– (A) Rs. 70,000 (B) Rs. 94,000 (C) Rs. 1,34,000 (D) Rs. 3,50,000

Last Answer : Answer: Rs. 3,50,000