CA Foundation Exam  >  CA Foundation Questions  >  Which of the following is False ?a) ... Start Learning for Free
Which of the following is False ?
  • a)
    Selling Price is more than Invoice Price
  • b)
    To eliminate Loading on Opening Stock, Stock Reserve A/c is debited
  • c)
    To eliminate Loading on Closing Stock, Stock Reserve A/c is credited
  • d)
    To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which of the following is False ?a) S...

Explanation:

Selling Price is more than Invoice Price:
- This statement is false because the selling price is typically lower than the invoice price. The invoice price is the amount that the buyer agrees to pay for the goods or services, while the selling price is the actual price at which the goods or services are sold to the customer.

To eliminate Loading on Opening Stock:
- To eliminate loading on opening stock, Stock Reserve A/c is debited. This is done to adjust the opening stock value by removing any additional costs or markups included in the initial stock amount.

To eliminate Loading on Closing Stock:
- To eliminate loading on closing stock, Stock Reserve A/c is credited. This adjustment helps in accurately reflecting the true value of the closing stock by removing any additional costs included in the stock amount.

To eliminate Loading on Goods Sent on Consignment:
- To eliminate loading on goods sent on consignment, Goods sent on Consignment A/c is debited. This adjustment is necessary to ensure that the consignment goods are valued correctly by removing any additional costs or markups included in the initial consignment value.

By understanding and applying these principles correctly, businesses can ensure their financial records accurately reflect the true value of their stock and consignment goods.
Free Test
Community Answer
Which of the following is False ?a) S...
The selling and invoice price are one and the same.......is it
Explore Courses for CA Foundation exam
Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer?
Question Description
Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer?.
Solutions for Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Which of the following is False ?a) Selling Price is more than Invoice Price b) To eliminate Loading on Opening Stock, Stock Reserve A/c is debited c) To eliminate Loading on Closing Stock, Stock Reserve A/c is credited d) To eliminate Loading on Goods Sent on Consignment, Goods sent on Consignment A/c is debited Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev