Do you agree/disagree with the following statements:i. The amount bor

1.	Do you agree/disagree with the following statements:i. The amount borrowed by a partner from his business will be debited to the Current Account.ii. Sold but undispatched goods must be part of the valuation of closing stock.iii. Carriage inward is a selling and distribution overhead.iv. Gross profit is an operating profit.v. All financial expenditures are debited to the Profit and Loss Account.vi. Free distribution of goods is debited to Trading Account.
Answer» i. Agree ii. Disagree iii. Disagree iv. Disagree v. Agree vi. Disagree

Do you agree/disagree with the following statements:i. The amount borrowed by a partner from his business will be debited to the Current Account.ii. Sold but undispatched goods must be part of the valuation of closing stock.iii. Carriage inward is a selling and distribution overhead.iv. Gross profit is an operating profit.v. All financial expenditures are debited to the Profit and Loss Account.vi. Free distribution of goods is debited to Trading Account.

Answer»

i. Agree

ii. Disagree

iii. Disagree

iv. Disagree

v. Agree

vi. Disagree