Closing stock is valued at ____________
A) Market price
B) Cost price
C) Cost price or market price whichever is les
Correct Answer:
Verified
Q53: Cost of goods old can be calculated
Q54: Capital expenditure are recorded in the _
A)Balance
Q55: Nominal accounts are related to
A)Assets& liability
B)Expenses &
Q56: Sales journal is used for recording
A)Cash sales
B)Credit
Q57: Trading account is a _account
A)Real
B)Nominal
C)Persona
Q59: Balance sheet is an _
A)Statement
B)Account
C)Bot
Q60: Wages paid on for the erection of
Q61: Income tax is debited to _
A)Profit and
Q62: Goods taken by the proprietor for personal
Q63: Asset that can be converted into cash
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