M/S manish Boutique Ltd. During the year Manish Malhotra had taken home some clothing fabric from his boutique to present his wife a new suit for her birthday. He has included the cost of stock Rs 12000as a business expense while calculating the profits, which came to Rs.62,000. Based on this information, what will be the profit? a)The _ concept applies here and the profit figure should be Rs._?
M/S manish Boutique Ltd. During the year Manish Malhotra had taken home some clothing fabric from his boutique to present his wife a new suit for her birthday. He has included the cost of stock Rs 12000as a business expense while calculating the profits, which came to Rs.62,000. Based on this information, what will be the profit? a)The _ concept applies here and the profit figure should be Rs._?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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M/S manish Boutique Ltd.
During the year Manish Malhotra had taken home some clothing fabric from his boutique to present his wife a new suit for her birthday. He has included the cost of stock Rs 12000as a business expense while calculating the profits, which came to Rs.62,000. Based on this information, what will be the profit?
a)The _ concept applies here and the profit figure should be Rs._?
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