Mr. A has a Furniture shop. Which of the following is considered as goods of his shop?

A table purchased for resale to a customer

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

A table purchased for use in his shop

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

A table purchased for his house

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

A table purchased to gift to his sister on her birthday

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

Open in App

Solution

The correct option is A
A table purchased for resale to a customer

Only the table purchased for resale to a customer is to be considered as goods as it is purchased by him for resale.

Suggest Corrections

Similar questions

Mr. Ajay has a business of selling furniture. He has purchased a table for use in his office. Which of the following accounts should be debited?

Ram has purchased a furniture for resale as he has a furniture shop. Where the same shall be shown?

Q. Ron purchased a table for Rs.

1260

and due to some scratches on its top he had to sell it for Rs.

1197

. Find his loss percent.

Q. Rohan purchased a table for Rs.

1200

and due to some scratches on its top he had to sell it for Rs.

1000

. Find his loss per cent.

Mr. Gopal thought of starting a business of readymade garments. For this, he withdrew cash of Rs 10,00,000 from his savings bank account & purchased goods worth Rs 7,00,000. Out of the balance, Rs 1,00,000 was paid by him as security for rent of the shop in which he shall start his business. He purchased furniture of Rs 1,00,000 for his shop & the rest was held as cash by him. What is value of capital introduced by him in the business?

Join BYJU'S Learning Program

Mr. A has a Furniture shop. Which of the following is considered as goods of his shop?

The correct option is A A table purchased for resale to a customer Only the table purchased for resale to a customer is to be considered as goods as it is purchased by him for resale.

The correct option is A
A table purchased for resale to a customer

Only the table purchased for resale to a customer is to be considered as goods as it is purchased by him for resale.