M/s Manish Boutique Ltd. During the year, Manish Malhotra had taken home some clothing fabric from

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M/s Manish Boutique Ltd. … 

During the year, Manish Malhotra had taken home some clothing fabric from his boutique, to present his wife a new suit for her birthday. He has included the cost of this stock (₹12,000) as a business expense while calculating the profits, which came to ₹62,000. Based on this information, what will be the profit?

The ___________ concept applies here and the profit figure should be ₹______________.

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Financial Accounting For Management

ISBN: 9789385965661

4th Edition

Authors: Neelakantan Ramachandran, Ram Kumar Kakani

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