Nobel College
Sinamangal, Kathmandu
End Chapter Quizzes
Full Marks: 5 Time: 15min.
Pass Mark: 2.5
Name: _________________________
Roll. No ____________
Attempt all the questions.
QN.1. The last in first out method of inventory valuation is appropriate if the price of product is in decreasing trend to fulfill the __________________purpose of the company.
Q. N. 2. The separate account, which is maintained to record the return outward under periodic inventory system is______________________
Q.N. 3. ____________________Method assumes that the price of the products is homogeneous.
Q.N. 4. Gross profit method of inventory estimation is used to identify the ___________________.
Q.N. 5. If the company wants to trade-off between income tax minization and maximization of shareholder’s interest it should follow________________________method of inventory valuation
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