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

Monjur Alahi

State True or False with reason :

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


0 like 0 dislike
1 views
Share with your friends

1 Answers

Salim Ahmed Kawsar

Call

This statement is False.

Closing stock is valued at cost or market price whichever is less. It is based on the theory of anticipated profit is not brought with the account before actual realization or the Principle of conservatism.

0 like 0 dislike
1 views
Talk Doctor Online in Bissoy App
At the market price of Rs.10, a firm supplied 4 untis of output. The market price increases to Rs.30. The price elasticity of supply is 1.25. What qua

`{:(" P 10"),(" P"_(1)" 30"),(ulbar(DeltaP" 20")):}" "{:("Q 4"),("Q"_(1)" ?"),(ulbar(DeltaQ" ?")):}` `P.e_(S)=(P)/(Q)xx(DeltaQ)/(DeltaQ)" or "1.25=(10)/(4)xx(DeltaQ)/(20)` `1.25xx8=DeltaQ` `DeltaQ=10.00=10" units"` `DeltaQ=Q_(1)-Q" or "10=Q_(1)-4` `10+4=Q_(1)` `Q_(1)=14` units

2 Answers 1 views
Calculate the Net Value Added at Factor Cost: (i) Goods and services tax 25 (ii) Consumption of ifxed capital 5 (iii) Closing stock 10 (iv) Corporate

`NVA_(fc)=vi+iii-v-vii-ii-i` `=540+10-20-140-5-25` =rs 360 lakh.

2 Answers 1 views
Calculate the Gross value Added at Market price: (i) Goods and services tax 40 (ii) Consumption of fixed capital 15 (iii) Closing stock 20 (iv) Sales

`GVA_(mp)=iv+iii-vii-vi` `=700+20-10-400` =rs 310 lakh.

2 Answers 1 views
From the following data, calcualte value added by firm X and by firm Y: (i) Closing stock of firm X 20 (ii) Closing stock of firm Y 15 (iii) Opening s

VA by X=v+i-iv-vi-ix =300+20-5-100-50 =rs 165 lakh V.A. by `Y=viii+ii-iii-vii` `=250+15-10-80` =rs 175lakh

2 Answers 2 views
Calculate net value added at factor cost: (i) Subsidies 5 (ii) Sales 500 (iii) Intermediate consumption 200 (iv) Closing stock 40 (v) Consumption of f

`NVA_(fc)=ii+iv-vii-iiiv-vi+i` `=500+40-50-200-60-30+5` =rs 205 crore.

2 Answers 1 views
Calculate the gross national product at factor cost the following data: (i) Net domestic fixed capital formation 350 (ii) Closing stock 100 (iii) Gove

`GNP_(fc)=viii+iii+(i+vi+ii-v)+vii+x.-iv` `=1500+200+(350+50+100-60)+(-10)+(-10)-50` `=1500+200+440-10-10-50` =rs 2070 crore.

2 Answers 1 views
Calculate Gross Domestic Product at market price from the following data: (i) Consumption of fixed capital 50 (ii) Closing stock 40 (iii) Private fina

`GDP_(mp)=iii+vii+(x+i)+(vi-viii)` `=500+200+(300+50)+(25-40)` `=500+200+350+(-15)` =rs 1035 crore.

2 Answers 1 views
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

Correct Answer - National Income = ₹ 48 , 000 Crores

2 Answers 2 views
Closing stock is always valued at cost or market price which is ___________ 

Correct option is (b) less

2 Answers 1 views
the selling price and the marked price of an article are Rs 132 x and Rs 165x respectively . If the article is marked 65% above the cost price and a d

Correct Answer - `192`

2 Answers 5 views
X