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Commerce Business Management Difficulty: Medium

Opening Stock Rs. 15,000 Purchases Rs. 40,000 Cost of goods sold Rs. 52,000 Sales Rs. 57,000 Gross profit on gross loss is? Based on which of the following concepts, is share capital account shown on the liability side of a balance sheet? Assertion (A): Job design relates to the manner in which tasks are put together to form a complete job. Reason (R): The matrix organization is a project plus a functional organization. Statement (I): The mindset commonly associated with a long-ago era when the demand for goods generally exceeded the supply and primary focus in business was to effectively produce medium quantities of products, finding the customers was viewed as a relatively major function. Statement (II): The firms with product orientation typically focus on the quality and quantity of offerings while assuming that customers will seek out and buy reasonably priced well-made products. A perfectly competitive firm maximizes its profit by producing output at which its marginal cost equals its