Maharashtra State BoardHSC Commerce 12th Board Exam
Question Papers192
Textbook Solutions12418
Important Solutions2344
Question Bank Solutions12392
Concept Notes & Videos248
Time Tables23
Syllabus
Advertisement Remove all ads

State Whether the Following Statement is True Or False. - Book Keeping and Accountancy

MCQ

State whether the following statement is True or False.

Closing stock is always valued at market price.

Options

  • True

  • False

Advertisement Remove all ads

Solution

False

Explanation: Closing stock is valued at cost price or market price or whichever is less. So, the given statement is incorrect/false.

Concept: Effects of Adjustments-Closing Stock
  Is there an error in this question or solution?
Chapter 2: Partnership Final Accounts - Exercise [Page 65]
Q 9
Advertisement Remove all ads

APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 2 Partnership Final Accounts
Exercise | Q 9 | Page 65
2014-2015 (October) (with solutions)
Q 1.D.1 | 1 mark
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications

My Profile

My Profile [view full profile]
Login
Create free account


      Forgot password?
Course
View in app×