Mr. X is a cloth merchant. His friend gifted him a shirt on his birthday. He is of the view that it is to be added to the value of stock of his shop. Is he correct ?

Yes, he is correct

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Not sure

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He might be correct

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No, he is not correct

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Solution

The correct option is D
No, he is not correct

Shirt gifted to Mr.X by a friend on his birthday shall not be added to the stock of his business. It is his personal asset & not for sale in his business.

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Mr. X is a cloth merchant. His friend gifted him a shirt on his birthday. He is of the view that it is to be added to the value of stock of his shop. Is he correct ?

The correct option is D No, he is not correct Shirt gifted to Mr.X by a friend on his birthday shall not be added to the stock of his business. It is his personal asset & not for sale in his business.

The correct option is D
No, he is not correct

Shirt gifted to Mr.X by a friend on his birthday shall not be added to the stock of his business. It is his personal asset & not for sale in his business.