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

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

1 Answer

Answer :

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

Related questions

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

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

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

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

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

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.

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

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.

What is the break even quantityif the cost of manufacture is the same whichever method is used if A is a fixed cost of 40000 and a variable of 23 and b has a fixed cost of 52000?

Description : What is the break even quantityif the cost of manufacture is the same whichever method is used if A is a fixed cost of 40000 and a variable of 23 and b has a fixed cost of 52000?

Last Answer : There question is incomplete:There is no variable cost given for manufacturing method B. I'll assume it is b.It is unclear as to quantity for which the cost of manufacturing by both methods is the same. I'll assume it is ... - b)I'll let you fill in the value of b; if b has no variable cost, b = 0.

Inventory of services rendered is recognized at a) Cost b) NVR c) Cost or NVR whichever is less d) Cost less cost to sell

Description : Inventory of services rendered is recognized at a) Cost b) NVR c) Cost or NVR whichever is less d) Cost less cost to sell

Last Answer : a) Cost

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

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.

Length of bridge timber in BG a) outer to outer of girder plus 305mm b) 2440mm c) whichever is more in a) & b)* d) whichever is less in a) & b)

Description : Length of bridge timber in BG a) outer to outer of girder plus 305mm b) 2440mm c) whichever is more in a) & b)* d) whichever is less in a) & b)

Last Answer : c) whichever is more in a) & b)*

How much work does it take to change on a program, from "Monday to Sunday" to whichever 7 days in a row?

Description : How much work does it take to change on a program, from "Monday to Sunday" to whichever 7 days in a row?

Last Answer : It would depend on the individual program.

Why is whichever G8 country having water shortage?

Description : Why is whichever G8 country having water shortage?

Last Answer : Cape Town has been in the news recently as it could run out of water entirely in a couple of months, but that is in South Africa, not a G8 country.

How come the word "weird" looks "wierd" whichever way you spell it?

Description : How come the word "weird" looks "wierd" whichever way you spell it?

Last Answer : Weird doesn’t bother me. I have to think about tomorrow, and I worked with a guy that could never spell heifers right. He always spelled it hiefer.

What happens when you click on the RSS icon in whichever site you find it?

Description : What happens when you click on the RSS icon in whichever site you find it?

Last Answer : answer:You need an RSS reader (either built into the web like www.feedly.com) or you need an RSS Client software (of which there are dozens). RSS means real simple syndication which is a way to ... in the website. In short, it's for current awareness in the future, not really for doing this now.

Your beloved pets,cute,dependable,companion,whichever but what is an example of something they've done that was dumb?

Description : Your beloved pets,cute,dependable,companion,whichever but what is an example of something they've done that was dumb?

Last Answer : My pot-bellied pigs eat their own vomit. Food is food I guess. They also eat slugs, worms and bird shit. When my female pig was younger, she ate a mound of rabbit shit. She was sick for two days.

On whichever online buy/sell/trade site you may be part of, how skeptical are you when a user's rating is less than 100%?

Description : On whichever online buy/sell/trade site you may be part of, how skeptical are you when a user's rating is less than 100%?

Last Answer : There’s always going to be one unreasonable person in a crowd that lives for ruining a 100% rating. If there’s 3 or 4 people that are really unhappy, that is when I get very skeptical but then again, I’m always very skeptical when dealing with eBay by default.

I'm first found in caves, now prolific online; I'm a depiction, a drawing, a symbol, or sign. I'll convey whichever mood you could wish; or for that matter, a fist, flask, or fish. What am I? -Riddles

Description : I'm first found in caves, now prolific online; I'm a depiction, a drawing, a symbol, or sign. I'll convey whichever mood you could wish; or for that matter, a fist, flask, or fish. What am I? -Riddles

Last Answer : An emoji.

A serial killer kidnapped people and made them take 1 of 2 pills: one was harmless, and the other was poisonous. Whichever pill a victim took, the serial killer took the other one. The victim took their pill with water and died. The killer survived. How did the killer always get the harmless pill? -Riddles

Description : A serial killer kidnapped people and made them take 1 of 2 pills: one was harmless, and the other was poisonous. Whichever pill a victim took, the serial killer took the other one. The victim ... with water and died. The killer survived. How did the killer always get the harmless pill? -Riddles

Last Answer : Both of the pills were harmless. The poison was in the glass of water the victim drank.

You are about to be executed, but the king gives you a chance. He says that he will divide 100 marbles in half. 50 of them are black and 50 are white. You can arrange them however you like into two bowls, but you must use all the marbles. The king will then blindfold you and switch them around. Then you choose a single marble from whichever bowl you put your hand randomly in. If you choose a white marble you can live, but if you choose a black one you die. How do you divide the marbles so there is a 50-50 chance you will live? -Riddles

Description : You are about to be executed, but the king gives you a chance. He says that he will divide 100 marbles in half. 50 of them are black and 50 are white. You can arrange them however you like into two ... one you die. How do you divide the marbles so there is a 50-50 chance you will live? -Riddles

Last Answer : You need to put one white marble in one of the bowls. Then the remaining 49 go with the 50 black marbles. Then you will have a good chance of living.

What is the period of appointment of the Comptroller and Auditor - General of India? (1) 6 years (2) Up to 65 years of age (3) 6 years or 65 years of age whichever is earlier (4) Up to 64 years of age

Description : What is the period of appointment of the Comptroller and Auditor - General of India? (1) 6 years (2) Up to 65 years of age (3) 6 years or 65 years of age whichever is earlier (4) Up to 64 years of age

Last Answer : (3) 6 years or 65 years of age whichever is earlier Explanation: The term length of the Comptroller and Auditor General of India is 6 yrs or up to 65 yrs of age (whichever ... and authorities substantially financed by the government. The CAG is also the external auditor of governmentowned companies

The Chief Election Commissioner of India holds office – (1) for six years (2) during the pleasure of the President (3) for six years or till the age of 65 whichever is earlier (4) for five years or till the age of 60 whichever is earlier

Description : The Chief Election Commissioner of India holds office – (1) for six years (2) during the pleasure of the President (3) for six years or till the age of 65 whichever is earlier (4) for five years or till the age of 60 whichever is earlier

Last Answer : (3) for six years or till the age of 65 whichever is earlier Explanation: The President of India (based on a recommendatioill from incumbent Government of India) appoints the Chief Election Commissioner who ... Court of India. Note : Dr. Nasim Zaidi is thepresent (2017) chief election of India.

The Chief Election Commissioner of India holds office for a period of - (1) six years (2) during the pleasure of the President (3) for 6 years or till the age of 65 years, whichever is earlier (4) for 5 years or till the age of 60 years, whichever is earlier

Description : The Chief Election Commissioner of India holds office for a period of - (1) six years (2) during the pleasure of the President (3) for 6 years or till the age of 65 years, whichever is earlier (4) for 5 years or till the age of 60 years, whichever is earlier

Last Answer : (3) for 6 years or till the age of 65 years, whichever is earlier Explanation: The Chief Election Commissioner holds office for a term of six years or until they attain the age of 65 years, whichever is earlier.

What is the Terms of the Comptroller and Auditor General of India? (1) 6 years (2) upto 65 years of age (3) 6 years or 65 years of age, whichever earlier (4) upto 64 years of age

Description : What is the Terms of the Comptroller and Auditor General of India? (1) 6 years (2) upto 65 years of age (3) 6 years or 65 years of age, whichever earlier (4) upto 64 years of age

Last Answer : (3) 6 years or 65 years of age, whichever earlier Explanation: CAG of India holds office for 6 years or 65 years of age, which ever earlier.

The term of office of the Advocate General of a State is: (1) 4 years (2) 5 years (3) 6 years or 65 years of age whichever is earlier (4) not fixed

Description : The term of office of the Advocate General of a State is: (1) 4 years (2) 5 years (3) 6 years or 65 years of age whichever is earlier (4) not fixed

Last Answer : (4) not fixed Explanation: The Office of the Advocate General is a constitutional office created under Article 165 of the Constitution of India. The Governor of the State appoints a person who is qualified to be appointed as a judge of the High Court as Advocate General of the State.