Is it true or false that a grocery store’s sale of its old delivery van to one of its employees for Rs. 2,000 should be recorded in the Revenue from Operations?

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Partially True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
False

False. It will form part of Other income

Suggest Corrections

Similar questions

Managers should ensure the continued survival of the organisation by ensuring that the revenue of the company covers its costs. State true or false.

Q. Which of the following statement(s) is / are false regarding accounting rate of return?
(i) Depreciation is not considered for its calculation
(ii) Depreciation is added back to the annual income
(iii) For decision making ARR of a project is compared with that of the firm or industry as a whole
(iv) If ARR is greater than one for a project it should be accepted.
(v) For calculating average annual income non-cash expenses are also deducted from sales revenue.

Q. Revenue from operations (Net Sales) Rs 4,50,000; Cost of good sold Rs 3,60,000: Operating expenses Rs 22,500. What will be Operating Profit Ratio?

Opening Inventory Rs. 29,000; Closing Inventory Rs. 31,000; Revenue from Operations (Sales) Rs. 3,20,000; Gross Profit Ratio 25% on Revenue from Operations.
Calculate:
(i) Inventory Turnover Ratio and
(ii) Average Age of Inventory.

Q. The money to be spent for the walfare of the employees of a firm is proportional to the rate of change of its total revenue (marginal revenue). If the total revenue (in rupees) received from the sales of

x

units of a product is given by

R (x) = 3 x^{2} + 36 x + 5

, find the marginal revenue, when

x = 5,

and write which value does the question indicates.

Join BYJU'S Learning Program

Is it true or false that a grocery store’s sale of its old delivery van to one of its employees for Rs. 2,000 should be recorded in the Revenue from Operations?

The correct option is B False False. It will form part of Other income

The correct option is B
False

False. It will form part of Other income