Which of the following expenses does not elate to cost of production in the manufacturing organization?

Capital is the?

A. liability of the business to its proprietor B. money owed by the company to others C. money owed to the company by others D. total of the long-term liabilities E. total of the short-term liabilities Correct Answer: Option A – liability of the business to its...

If the Opening stock is undervalued?

A. goods available would be understated and gross profit overstated B. goods available and gross profit would be understates C. goods available would be overstated and gross profit understated D. gross profit and goods available would be overstated E. cost of goods...

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