Question : From the following details, Closing Inventory Rs. 60,000;
Total Revenue from Operations Rs.5,00,000 (including cash revenue from operations Rs. 1,00,000 ); Total purchases Rs.3,00,000 (including credit purchases Rs.60,000). Goods are sold at a profit of 25% on cost. Calculate opening inventory.

Option 1: Rs 1,40,000

Option 2: Rs 1,50,000

Option 3: Rs 1,60,000

Option 4: Rs 80,000

Question : Which of the following statements is false?

Option 1: Cost of Revenue = Opening Inventory + Purchases + Carriage from Operations + Wages + Other Direct Charges - Closing Inventory

Option 2: Cost of Revenue from Operations = Revenue from Operations (Cost of Goods Sold) - Gross Profit.

Option 3: Revenue from Operations + Gross Loss= cost of revenue from operation

Option 4: None of the above

Question : Which of the following statements is false?

Option 1: Cost of Revenue = Opening Inventory + Purchases + Carriage from Operations + Wages + Other Direct Charges - Closing Inventory

Option 2: Cost of Revenue from Operations = Revenue from Operations (Cost of Goods Sold) - Gross Profit.

Option 3: Revenue from Operations + Gross Loss= cost of revenue from operation

Option 4: None of the above

Question : Credit Revenue from Operations Rs. 2,00,000; Opening Trade Receivables Rs. 30,000 and Closing Trade Receivables Rs. 50,000 . which of the following transactions will Decrease ....................

Option 1: Collection from trade receivables Rs. 10,000

Option 2: Sold goods on credit Rs. 20,000

Option 3: Revenue from Operations returns Rs. 4,000

Option 4: Credit purchase Rs. 50,000

Question : Credit Revenue from Operations Rs. 2,00,000; Opening Trade Receivables Rs. 30,000 and Closing Trade Receivables Rs. 50,000 . which of the following transactions will Decrease ....................

Option 1: Collection from trade receivables Rs. 10,000

Option 2: Sold goods on credit Rs. 20,000

Option 3: Revenue from Operations returns Rs. 4,000

Option 4: Credit purchase Rs. 50,000