Question
Akash Ltd sells 3 products X, Y and Z. The following
information was available at the year end : X Y Z Cost 7 10 19 Fair Value 10 8 15 Units 100 200 300Solution
Value of closing inventory is done at Cost or NRV whichever is lower on item-by item basis as per AS 2 or IAS 2 For Product X inventory = 7*100 = 700 For product Y inventory = 8*200 = 1600 For product Z inventory = 15*300 = 4500 So total closing inventory = 700+1600+4500 = 6800
With respect to standard costing, which of the following statement is incorrect?
Which of the following is an example of capital expenditure?
IGST is collected in case of what type of sales?
How many digits are there in an IFSC code used to transfer money using NEFT?
Under which Section, Quoting of Pan is mandatory?
Capital budgeting involves the evaluation of:
What is the primary purpose of the "Canon of financial propriety"?
The arrangement of assets and liabilities in accordance with a particular order is known as of balance sheet.
What is relevant for determination of whether the supply is Intra-state or inter-state in GST?
Which of the following is a representative personal account?
