Question

ghanshyam is a furniture dealer. which one of the following wil not be recorded in his book? a purchase of timber for rupees 50,000 b sofa set worth rupees 40,000 taken to his home c sale of household furniture for rupees 5,000 d dining table of rupees 30,000 given to his friend as gift .

Answer 1

Answer:

Explanation:

Option d

Answer 2

ghanshyam is a furniture dealer. which one of the following wil not be recorded in his book?

a purchase of timber for rupees 50,000

b sofa set worth rupees 40,000 taken to his home

c sale of household furniture for rupees 5,000

d dining table of rupees 30,000 given to his friend as gift .

The correct answer is :

b sofa set worth rupees 40,000 taken to his home

Explanation :

Ghanshyam is a furniture dealer, in his book a sofa set worth 40000/- was taken by him to his house, this activity will not be recorded, as Ghanshyam made this purchase for his personal use.

The remaining three activities were related to his business.

He bought wood for 50000/- to make furniture in his shop. Wood was the raw material for him. It was related to his business activity. For this, it will be recorded in his account.

The sale of furniture which was in 5000/- is also a part of his daily sales, which is his business activity. That too will be recorded in his book.

He gifted a dining table of 3000/- to his friend which was an expenditure on his behalf that he had incurred on someone other than his family, so it would not come under his personal expenses.

40000/- sofa set he took to his home, it will come under his personal expenses and will not be recorded in his book.

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