New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    What would be the treatment of following in the process

    account? Opening Stock of Materials50000 Purchases                        800000 Closing Stock of Materials250000
    A Would be net debited by 800000 Correct Answer Incorrect Answer
    B Would be net debited by 250000 Correct Answer Incorrect Answer
    C Would be net debited by 600000 Correct Answer Incorrect Answer
    D Would be credited by 600000 Correct Answer Incorrect Answer
    E Would be credited by 850000 Correct Answer Incorrect Answer

    Solution

    It is to be debited by materials consumed on a net basis i.e. net debit by 600000 (50000+800000-250000)

    Practice Next