Question
Find the total cost of production of shoes by Puma and
Adidas together?Solution
Shoes by Puma = 5/12 × 15% of 4crores = 0.25crores Shoes by Adidas = 7/10 × 20% of 4crores = 0.56crores So total cost = 0.25 + 0.56 = 0.81crores
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:
