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

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

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

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

Last Answer : C. Cost or market price whichever is lower

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

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.

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

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

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

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

Calculate cost of sales from the following: Net Works cost: Rs. 2,00,000 Office & Administration Overheads: Rs. 1,00,000 Opening stock of WIP: Rs. 10,000 Closing Stock of WIP: Rs. 20,000 Closing stock of finished goods: Rs. 30,000 There was no opening stock of finished goods. Selling overheads: Rs. 10,000 (a) Rs. 2,70,000 (b) Rs. 2,80,000 (c) Rs. 3,00,000 (d) Rs. 3,20,000

Description : Calculate cost of sales from the following: Net Works cost: Rs. 2,00,000 Office & Administration Overheads: Rs. 1,00,000 Opening stock of WIP: Rs. 10,000 Closing Stock of WIP: Rs. 20,000 Closing stock of finished goods: Rs. ... Rs. 2,70,000 (b) Rs. 2,80,000 (c) Rs. 3,00,000 (d) Rs. 3,20,000

Last Answer : (b) Rs. 2,80,000

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

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

Description : 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

Last Answer : Answer: A

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

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

When the price is less than the average variable cost, the firm should …………. (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench workers and pay them compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors

Description : When the price is less than the average variable cost, the firm should . (a) Continue to operate till the market recover ; (b) Shut down its operation for the time being (c) Retrench ... compensation; (d) Clear the existing stock at a price less than the prevailing price to beat the competitors

Last Answer :  (b) Shut down its operation for the time being

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 ?

Description : 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 ?

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.

If Opening Stock – Rs.15,000 Purchases – Rs.37,500 Direct Expenses – Rs.1,500 Closing Stock – Rs.7,500 Operating Expenses – Rs.3,000 Sales are Rs. 60,000 during the year, what is the net profit ? (A) Rs. 12,000 (B) Rs. 10,500 (C) Rs. 7,500 (D) Rs. 3,000

Description : If Opening Stock – Rs.15,000 Purchases – Rs.37,500 Direct Expenses – Rs.1,500 Closing Stock – Rs.7,500 Operating Expenses – Rs.3,000 Sales are Rs. 60,000 during the year, what is the net profit ? (A) Rs. 12,000 (B) Rs. 10,500 (C) Rs. 7,500 (D) Rs. 3,000

Last Answer : Answer: Rs. 10,500

Closing stock appearing in the Trial Balance is shown in– (A) Balance Sheet only (B) Trading Account only (C) Trading Account and Balance Sheet both (D) None of the above

Description : Closing stock appearing in the Trial Balance is shown in– (A) Balance Sheet only (B) Trading Account only (C) Trading Account and Balance Sheet both (D) None of the above

Last Answer : Answer: Balance Sheet only

Average stock of firm is Rs. 80,000, the opening stock is Rs. 10,000 less than closing stock. Find opening stock. (A) Rs. 95,000 (B) Rs. 85,000 (C) Rs. 90,000 (D) Rs. 75,000

Description : Average stock of firm is Rs. 80,000, the opening stock is Rs. 10,000 less than closing stock. Find opening stock. (A) Rs. 95,000 (B) Rs. 85,000 (C) Rs. 90,000 (D) Rs. 75,000

Last Answer : Answer: Rs. 75,000

Few items of P/L A/c of a company are– Sales – Rs.1,60,000 Closing stock – Rs.38,000 Non-operating Expenses – Rs.800 Non-operating Income – Rs.4,800 Net Profit – Rs.28,000 What is the Operating Profit Ratio ? (A) 18% (B) 20% (C) 15% (D) 57%

Description : Few items of P/L A/c of a company are– Sales – Rs.1,60,000 Closing stock – Rs.38,000 Non-operating Expenses – Rs.800 Non-operating Income – Rs.4,800 Net Profit – Rs.28,000 What is the Operating Profit Ratio ? (A) 18% (B) 20% (C) 15% (D) 57%

Last Answer : Answer: 15%

In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses

Description : In accounting terms, what constitutes the 'closing stock'? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment - Capital Losses

Last Answer : (4) Opening Stock + Net Investment - Capital Losses Explanation: Closing stock refers to the goods remaining un-sold during the year. It includes finished products, raw materials, or work in progress ... with the following calculation: Opening stock + Purchases - Closing stock = Cost of goods sold.

Explain Me What Is Opening Stock And Closing Stock?

Description : Explain Me What Is Opening Stock And Closing Stock?

Last Answer : At the beginning of a reporting period, or after a cycle count, the stock available in your inventory account is the Opening Stock. It is also called as Beginning Inventory. So, there's an Opening Stock. ... it is under debit. In trading Account, it is under credit. Because, it is still not traded.

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.

In accounting terms, what constitutes the ‘closing stock’? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment – Capital Losses

Description : In accounting terms, what constitutes the ‘closing stock’? (1) Net Investment (2) Gross Investment-Capital Losses (3) Opening Stock-Capital Losses (4) Opening Stock + Net Investment – Capital Losses

Last Answer : Opening Stock + Net Investment – Capital Losses

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

Who determines share price quotes in the stock market?

Description : Who determines share price quotes in the stock market?

Last Answer : It takes two to tango Both the buyer and seller .the seller is willing to let go of his shares at a certain price and the buyer is willing to accept the shares at that price. Each buyer/ ... will probably take or he might say no and wait for another garage sale to sell at his desired price

Which tool can you use as a quick comparison tool when conducting a competitive analysis concerning production? a. Bond ratings b. Stock price c. Customer survey d. Market share e. None of the above

Description : Which tool can you use as a quick comparison tool when conducting a competitive analysis concerning production? a. Bond ratings b. Stock price c. Customer survey d. Market share e. None of the above

Last Answer : c. Customer survey

Under the SEBI (Share Based Employee Benefits) Regulations, 2014, appreciation means the difference between the ______________. a) market price of the share of a company on the date of exercise of stock appreciation right (SAR) or vesting of SAR, as the case may be, and the SAR price. b) face value of the share of a company on the date of exercise of stock appreciation right (SAR) and vesting of SAR, as the case may be, and the SAR price. c) market price of the share of a company on the date of exercise of share appreciation right (SAR) and the SAR price. d) face value of the share of a company on the date of exercise of share appreciation right (SAR) and the SAR price.

Description : Under the SEBI (Share Based Employee Benefits) Regulations, 2014, appreciation means the difference between the ______________. a) market price of the share of a company on the date of exercise of stock ... a company on the date of exercise of share appreciation right (SAR) and the SAR price.

Last Answer : market price of the share of a company on the date of exercise of stock appreciation right (SAR) or vesting of SAR, as the case may be, and the SAR price.

Chhatrapati Shivaji Maharaj established the first capital of Swaraiva at the fort of ___________ 

Description : Chhatrapati Shivaji Maharaj established the first capital of Swaraiva at the fort of ___________ 

Last Answer : Chhatrapati Shivaji Maharaj established the first capital of Swaraiva at the fort of ___________ (a) Rajgad ... (c) Raj gad (d) Vishalgad

The grand army of Ibrahim Lodi could not survive in front of ___________ 

Description : The grand army of Ibrahim Lodi could not survive in front of ___________ 

Last Answer : The grand army of Ibrahim Lodi could not survive in front of ___________ (a) Babur, in the battle ... the ruler of Mewar (d) Humayun's son Akbar

The Taj Mahal was built by ___________ 

Description : The Taj Mahal was built by ___________ 

Last Answer : The Taj Mahal was built by ___________ (a) Babur (b) Akbar (c) Shahajahan (d) Jahangir

Alauddin Khilji sent his commander Malik Kafur to south because of ___________ 

Description : Alauddin Khilji sent his commander Malik Kafur to south because of ___________ 

Last Answer : Alauddin Khilji sent his commander Malik Kafur to south because of ___________ (a) he wanted to ... he wanted to build his empire in the south

Baburnama was written by ___________ 

Description : Baburnama was written by ___________ 

Last Answer : Baburnama was written by ___________ (a) Akbar (b) Birbal (c) Babur (d) Jahangir

Rana Pratap was the ruler of ___________ 

Description : Rana Pratap was the ruler of ___________ 

Last Answer : Rana Pratap was the ruler of ___________ (a) Mewar (b) Jodhpur (c) Jaipur (d) Bundelkhand

Tuli translated the text of ___________ 

Description : Tuli translated the text of ___________ 

Last Answer : Tuli translated the text of ___________ (a) Koshashastra (b) Bhadvad Gita (c) Ramayan (d) Mahabharata.

The Italian traveller Nicolo Conti visited ___________ 

Description : The Italian traveller Nicolo Conti visited ___________ 

Last Answer : The Italian traveller Nicolo Conti visited ___________ (a) Vijayanagar (b) Delhi (c) Iran (d) Karnataka

Many Satavahana inscriptions are found in ___________ 

Description : Many Satavahana inscriptions are found in ___________ 

Last Answer : Many Satavahana inscriptions are found in ___________ (a) South Maharashtra (b) Northwest ... c) North Maharashtra (d) Central Maharashtra

Grama was an integral part of the ___________ 

Description : Grama was an integral part of the ___________ 

Last Answer : Grama was an integral part of the ___________ (a) central machinery (b) middle machinery (c) outdoor machinery (d) absolute machinery

The Satavahana rule declined due to ___________ 

Description : The Satavahana rule declined due to ___________ 

Last Answer : The Satavahana rule declined due to ___________ (a) weak rulers (b) the constant struggle between ... (c) economic decline (d) social decline

Ashoka’s Victory at Kalinga proved a turning point in the history as well as the life of Ashoka. Reasons ___________ 

Description : Ashoka’s Victory at Kalinga proved a turning point in the history as well as the life of Ashoka. Reasons ___________ 

Last Answer : Choose the correct reason and complete the sentence: Ashoka's Victory at Kalinga proved a turning point ... human life (d) Weak rules of Kalinga

The great drama in Sanskrit literature Swapnavasavadatta was written by ___________ 

Description : The great drama in Sanskrit literature Swapnavasavadatta was written by ___________ 

Last Answer : The great drama in Sanskrit literature Swapnavasavadatta was written by ___________ (a) Kautilya (b) Bharat (c) Kalidasa (d) Bhasa

Pataligrama came to be known as ___________ 

Description : Pataligrama came to be known as ___________ 

Last Answer : Pataligrama came to be known as ___________ (a) Pataliputra (b) Magadha (c) Kasi (d) Kosala

The kingdom of Magadha acquired the form of an ___________ 

Description : The kingdom of Magadha acquired the form of an ___________ 

Last Answer : The kingdom of Magadha acquired the form of an ___________ (a) Empire (b) State (c) Country (d) District

It seems that the king of Assaka was known as ‘Andhakraja’ during ___________ 

Description : It seems that the king of Assaka was known as ‘Andhakraja’ during ___________ 

Last Answer : It seems that the king of Assaka was known as Andhakraja' during ___________ (a) Gautama Buddha ... (c) Second Urbanisation (d) Mahajanpada

Kamboja mahajanapada is mentioned in the ancient literature along with ___________ 

Description : Kamboja mahajanapada is mentioned in the ancient literature along with ___________ 

Last Answer : Kamboja mahajanapada is mentioned in the ancient literature along with ___________ (a) Kosala (b) Magadha (c) Anga (d) Gandhara

The core principle of Vardhamana Mahavir’s philosophy is ___________ 

Description : The core principle of Vardhamana Mahavir’s philosophy is ___________ 

Last Answer : The core principle of Vardhamana Mahavir’s philosophy is ___________ (a) Vedanta (b) Mimamsa (c) Charavaka (d) Pluralism (Anekantavada)

The city of Champa was the capital of ___________ 

Description : The city of Champa was the capital of ___________ 

Last Answer : The city of Champa was the capital of ___________ (a) Kasi (b) Anga (c) Kosala (d) Magadha