Partly manufactured goods are treated in the balance shee...
Partly manufactured goods are treated in the balance sheet of a manufacturing company as
Current assets
Fixed assets
Current liabilities
Long term liabilities
Correct answer is A
Inventory means those current assets, which have been or will be converted into the final products of a company for sale in the near future. In other words, inventory represents finished goods or goods in different stages of production that a company keeps at its premises or at third-party locations with ownership interest retained until goods are sold. The three most important types of inventory are the raw materials, the work in progress (semi finished goods / partly manufactured goods) and the finished goods.
\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock of raw materials} & 24,750\\ \text{...
The bank charges levied on a current account holder is the charge on? ...
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...
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Discount received account is a ...
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Using the following information to answer the given question \(\begin{array}{c|c} Post & Gr...