Question 17
Goods costing ₹1,00,000 sold to Mr. Erwin for ₹ 1,55,000. Sales proceeds were realized in full. The value entered as cost of goods sold in the income statement would be
₹ 1,55,000
₹ 1,00,000
₹ 55,000
₹ 2,55,000
Question 17: Goods costing ₹1,00,000 sold to Mr. Erwin for ₹ 1,55,000…
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Correct answer
₹ 1,00,000
Question 17 of 25 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 26 Feb 2023, in the January 2023 term (IIT M DEGREE AN4 EXAM QPE4 26 Feb 2023). It carries 1 mark.
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