If the loss as per cost books are to be ₹16,000 and closing stock is overvalued in cost books by ₹4,000 and opening stock is undervalued in cost books by ₹7,000, the loss as per financial accounts is: (A) ₹12,000 (B) ₹5,
CS Executive · Cost and Management Accounting · PYQS · December 2017
If the loss as per cost books are to be ₹16,000 and closing stock is overvalued in cost books by ₹4,000 and opening stock is undervalued in cost books by ₹7,000, the loss as per financial accounts is: (A) ₹12,000 (B) ₹5,000 (C) ₹27,000 (D) ₹9,000
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Reconciliation of Cost and Financial Accounts
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