Question

Good solid on credit costing Rupees 20000 for Rupees 24000 will increase total assets by​

Answer 1

Answer:

$Correct option is B)</p><p></p><p>Value of stock = Rs. \\ 20,000; \\ Sale price of stock \\ = Rs. 24,000</p><p></p><p>therefore \\ gain on sale of stock =  \\ Sale price of stock - Value of stock </p><p></p><p>gain on \\ sale of stock \\ = Rs. 24,000 - Rs. 20,000</p><p></p><p>gain on sale \\ of stock = Rs. 4,000</p><p></p><p></p><p>Gain on sale of \\ stock \\ will result in \\ increase \\ in the net profit \\ which ultimately \\ increases owner's equity \\ and total assets.</p><p></p><p>$

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