Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounts for Non Profit Organsiation

Question:

Stock of medicines on 1.4.2022 were ₹10,000. Medicines purchased during the year is ₹10,000. Closing stock of medicines on 31-3-2023 are ₹6,000. Consumption of medicines debited to Income & Expenditure Account is......

Options:

₹5,000

₹10,000

₹6,000

₹14,000

Correct Answer:

₹14,000

Explanation:

The correct answer is option 4- ₹14,000.

Medicine consumed = Opening stock + purchases - closing stock
                               = 10 000 + 10 000 - 6 000
                               = 14,000