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Introduction to Banking

The goods wit...

Question

The goods with customers are transferred from stock in shop account at __________ price.

A

instalment

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B

hire purchase

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C

profit

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D

financial service

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Solution

The correct option is B hire purchase
The goods with customers are transferred from stock in shop account at Hire purchase price.

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Similar questions

31 s t M a r c h

, goods sold at a sale price of

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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

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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. In most of the cases the goods and services in a shopping mall is ____________ than regular shops.

Q. A particular shop sells goods at cost. A person buys goods worth Rs.60 from the shop and gives the shopkeeper a Rs.100 note. As the shopkeeper does not have change to give his customer, he exchanges this Rs.100 note for 6 Rs.10 notes and 2 Rs. 20 notes from the bank to settle accounts with the customer. The next day, the banker returns the Rs.100 note claiming it to be a counterfeit and takes two Rs.50 notes from the shopkeeper. If the note was actually a counterfeit, what is the total loss to the shopkeeper?

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