Calculate the amount of sports material consumed for the year ended 31st March 2016 ₹ Stock of sports material on 1.4.2015 7,500 Creditor for sports material on 1.4.2015 2,000 Stock of sports material on 31.3.2016 6,200 Amount paid for sports material during the year 2015-16 17,000 Advance paid for sports material as on 31.3.2016 3,500 Creditor for sports material on 31.3.2016 1,200

Question

Calculate the amount of sports material consumed for the year ended 31st March 2016 ₹ Stock of sports material on 1.4.2015  7,500  Creditor for sports material on 1.4.2015 2,000 Stock of sports material on 31.3.2016 6,200 Amount paid for sports material during the year 2015-16   17,000 Advance paid for sports material as on 31.3.2016 3,500  Creditor for sports material on 31.3.2016 1,200

cdquestions Admin · Accepted Answer

S. No.	Particulars	Amount (in ₹ lakh)
(i)	Gross National Product at Market Price (GNP_MP)	2,500
(ii)	Consumption of Fixed Capital (Depreciation)	200
(iii)	Goods and Services Tax (Indirect Tax)	20
(iv)	Subsidies	50
(v)	Net Factor Income from Abroad (NFIA)	50
(vi)	Changes in Stocks	30
(vii)	Unexpected Loss of a Fixed Asset	500

The Correct Option is D

Solution and Explanation

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	₹
Stock of sports material on 1.4.2015	7,500
Creditor for sports material on 1.4.2015	2,000
Stock of sports material on 31.3.2016	6,200
Amount paid for sports material during the year 2015-16	17,000
Advance paid for sports material as on 31.3.2016	3,500
Creditor for sports material on 31.3.2016	1,200