CA Inter Accounting C-1 Fire Insurance Claim

In Q.1 of test what is the Gross profit ratio for year 20X1 – X2

• 3.0 %

• 0.30 %

• 30 %

• None of these

For ascertaining cost of stock as on date of fire, we prepare

• Memorandum Revaluation Account

• Memorandum Adjusted Profit and loss Account

• Memorandum Reconciliation account

• Memorandum Trading Account

In Q.1 of the test for which period will you prepare Memorandum Trading Account to ascertain stock as on date of fire?

• 1^st April 20X1 to 29^th August 20X2

• 1^st April 20X2 to 29^th August 20X1

• 1^st April 20X2 to 29^th August 20X2

• None of these

In Q.1 of test what is the amount of net purchases debited to Memorandum Trading A/c ?

• Rs.32,67,700

• 32.76,700

• 32,77,600

• None of these

In Q 1 of the test what is the amount of Gross profit os Memorandum Trading Account ?

• 13,06,800

• 13,60,080

• 13,60,800

• None of these

In Q 1 of the test what is the value of Stock on date of fire ascertained through Memorandum Trading Account ?

• 828600

• 882600

• 882060

• None of these

In Q.1 of the test what is the value of Insurance Claim ?

• 779300

• 777930

• 779030

• None of these

In Q.1 of the test whether average clause is applicable ?

• Yes

• No

• Not Understood

• Question is Wrong

In Q.2 of the test what is Gross Profit Ratio?

• 20 %

• 18 %

• 16 %

• 22 %

In Q.2 of the test what is Adjusted Standard Turnover ?

• 7,50,000

• 2,25,000

• 2,47,500

• 8,25,000