Question
What is the total of the profit earned by Sketchers on
Sales of Sport shoes and the profit earned by Fila on Sales of Sneakers? Seven companies Fila, Sketchers, Woodland, Reebok, Puma, Adidas and Nike are engaged in sale of sports shoes and sneakers. Study them carefully and answer the questions given below. Percentage of the total sales by the seven companies. Cost of the total sale (both items together) by seven companies = Rs 25 crores Ratio of sales between sport shoes and sneakers and the per cent profit earned for those items.Solution
Required total profit = (32 % of 3/5 of11% of 25 crore) + ( 20% of 3/5 of 15% of 25) = 52.8 lakh + 45 lakh = Rs 97.8 lakhs
A trader maintains accounts on cash basis and records revenue only when received. Which fundamental accounting assumption is not followed?
Which accounting principle/concept states that revenue should be recognized when it is earned, regardless of when cash is received?
"Revenue Reserve" is created out of:
The "Matching Principle" requires that:
The basic accounting equation is:
Which accounting principle states that revenue should be recognized in the accounting period in which it is earned?
Gross Domestic Product (GDP) is defined as the total value of all:
If the opening stock is ₹50,000, purchases are ₹2,00,000, and closing stock is ₹70,000, the Cost of Goods Sold is:
The difference between the total debits and total credits of an account is called:
Prepaid Rent appearing in the Trial Balance is treated as:
Relevant for Exams:
