X a cloth merchant started a business investing Rs. 50000. He bought goods for Rs. 40000 that he sold for Rs. 55000 to Mr Y i the month of December 2020.Y pays him Rs. 40,000 immediately and promises to pay the balance after six months. For the year ending 31st March 2021, X accountant enters the sales at Rs. 40,000. Rohit purchased some investments, which were a part of his stock for Rs. 5 Lac. at the end of the year, The market value of these investments came down to Rs.4 lac. Rohit wants to value his investments at Rs4 lac. Is he justified?​



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