Which of the following assets is/are to be valued at the lower of cost and net realizable value?

✅ A. Raw material consumed

Option A : Raw material consumed Option B : Plant purchased Option C : Long term loan raised from bank Option D : Share Capital Correct Answer : Raw material consumed Read more

✅ D. All the three

Option A : It bring out any errors committed in preparation of Cash book / Bank Pass Book Option B : Highlights under delay in clearance of cheques deposited but not credited Option C : Help know actual bank balance Option D : All the three Correct Answer : All the three Read more

✅ D. Financial position as on a particular date

Option A : Results of operations for a particular period Option B : Financial position during a particular period Option C : Profit earning capacity for a particular period Option D : Financial position as on a particular date Correct Answer : Financial position as on a particular date Read more

✅ C. distribution cost.

Option A : prime cost. Option B : factory cost. Option C : distribution cost. Option D : production cost Correct Answer : distribution cost. Read more

✅ A. When a discounted bill is honoured by the drawee on the due date

Option A : When a discounted bill is honoured by the drawee on the due date Option B : When a bill is sent to the bank for collection Option C : When a bill is renewed at the request of the drawee Option D : When a debtor accepts a bill drawn by the drawer Correct Answer : When… Read more

✅ A. Book value

Option A : Book value Option B : Intrinsic value Option C : Cost Option D : Market value Correct Answer : Book value Read more

✅ B. Crane value

Option A : Crane hours Option B : Crane value Option C : Truck Mileage Option D : Truck value Correct Answer : Crane value Read more

✅ C. Salary remained outstanding

Option A : Cash received from debtors Option B : Cash paid to creditors Option C : Salary remained outstanding Option D : Cash deposited with bank Correct Answer : Salary remained outstanding Read more