Question 11 of 34beginner🔧 ApplyShort Answer1 mark

What is the value of the goods purchased?

Correct Answer

₹ 2,00,000

Exercise: Test Your Understanding - V | Q: 3 | (Page 21)
For More Understanding

Explanation

According to the provided text for 'Test Your Understanding - V', Mr. Sunrise started a business and paid ₹ 2,00,000 for buying stationery items (goods) from his initial investment. Although the text mentions a subsequent purchase of ₹ 1,50,000 later, the explicit answer key provided in the context for Question 3 ('What is the value of the goods purchased?') lists the value as ₹ 2,00,000.

Solution Steps

  1. Step 1: Analyze the 'Test Your Understanding - V' case study involving Mr. Sunrise.

  2. Step 2: Identify the transaction regarding the initial purchase of goods: 'paid... ₹ 2,00,000 for buying stationery items'.

  3. Step 3: Verify with the answer key provided in the text, which states the answer for question 3 is '₹ 2,00,000'.