10 Views

Question : How much amount is to be shown in the Income and Expenditure Account in the following case:

Amount paid for sports materials 10000
Creditors at the end of the year 900
Closing Stock of sports material 1000

Option 1: Rs. 9,900

Option 2: Rs. 11,000

Option 3: Rs. 10,900

Option 4: Rs. 10,100


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 13th Jan, 2024

Correct Answer: Rs. 9,900


Solution :

Amount paid for sports materials 10000
Add: Creditors at the end of the year 900
Less: Closing Stock of Sports material 1000
Amount to be shown in Income and Expenditure Account 9900

Hence, the correct option is 1.

Related Questions

UEI Global, Hotel Management ...
Apply
Training & Placement Guarantee | Top Recruiters: The Oberoi, Taj, Lee Meridien, Hyatt and many more
VIT Bhopal University | M.Tec...
Apply
M.Tech admissions open @ VIT Bhopal University | Highest CTC 52 LPA | Apply now
Amity University | M.Tech Adm...
Apply
Ranked amongst top 3% universities globally (QS Rankings).
Amity University Noida MBA Ad...
Apply
Amongst top 3% universities globally (QS Rankings)
Graphic Era (Deemed to be Uni...
Apply
NAAC A+ Grade | Among top 100 universities of India (NIRF 2024) | 40 crore+ scholarships distributed
XAT- Xavier Aptitude Test 2026
Apply
75+ years of legacy | #1 Entrance Exam | Score accepted by 250+ BSchools | Apply now
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books