MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Business Studies

Ways of Consumer Protection

Stock does no...

Question

Stock does not include __________.

A

Goods in the hands of an agent

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

B

Goods out on approval (on sale or return)

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

C

Goods sold awaiting delivery to the buyer

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

D

Goods (meant for re-sale) hypothecated as security

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

Open in App

Solution

The correct option is C Goods sold awaiting delivery to the buyer
Sales are affected in books once the legal title of goods is transferred. The legal title of goods is transferred to the buyer once the invoice is made in his account. There might be a delay in delivery but the ownership has changed.
Hence, the stock should not include such item which is already sold.

Suggest Corrections

thumbs-up

0

Similar questions

31 s t M a r c h

, goods sold at a sale price of

R s . 30, 000

were lying with customer, Mohan to whom these goods were sold on 'sale or return basis' and recorded as actual sales. Since no consent was received from Mohan, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus

20

%. In the balance sheet, the stock with customers account will be shown at _________.

Q. On 31st March, goods sold at a sale price of Rs. 30,000 were lying with customer, Mohan to whom these goods were sold on 'sale or return basis' and recorded as actual sales. Since no consent was received from Mohan, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus 20%. In the balance sheet, the stock with customers account will be shown at Rs_________.

Q. The cost of inventory as per physical verification as on 24th March was Rs.4,00,000. Goods are sold at a profit of 25%on cost.
On 21st March, goods on the sales value of Rs.1,00,000 were sent on sale on return basis to a customer , the period of approval being two week .He returned 20% of the goods on 31st March.
The cost of inventory as per books on 31st march is ______________.

Q. In a sale on "approval" basis, any act of the Buyer exercising domination over the goods, showing an unequivocal intention to buy is called _______.

Q. The cost of inventory as per physical verification as on 24th March was Rs.4,00,000. Goods are sold at a profit of 25% on cost .
On, 27th January goods of the sale value of Rs.1,00,000 were sent on sale or return basis to customer, the period of approval being two weeks.He returned 20% of the goods on 31st March.
The cost of inventory as per book will be ?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Relief and Redressal

BUSINESS STUDIES

Watch in App

explore_more_icon

Explore more

Ways of Consumer Protection

Standard XII Business Studies

Join BYJU'S Learning Program

CrossIcon