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firm had an Opening balance of cash of RO 2000, Closing balance of cash amounted to RO 3,000. Opening balance of Debtors is RO 5,000 and the closing balance of Debtors RO 6,000. The Opening price index is 200, closing price index is 300, the average index is 250 The monetary gain or loss on holding monetary assets of the business is: a. Loss of RO 9000 b. None of the options listed are right. c. Gain of RO 3900 d. Loss of RO 3,900

firm had an Opening balance of cash of RO 2000, Closing balance of cash amounted to RO 3,000. Opening balance of Debtors is RO 5,000 and the closing balance of Debtors RO 6,000. The Opening price index is 200, closing price index is 300, the average index is 250 The monetary gain or loss on holding monetary assets of the business is: a. Loss of RO 9000 b. None of the options listed are right. c. Gain of RO 3900 d. Loss of RO 3,900

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A firm had an Opening balance of cash of RO 2000, Closing balance of cash amounted to RO 3,000. Opening balance of Debtors is RO 5,000 and the closing balance of Debtors RO 6,000. The Opening price index is 200, closing price index is 300, the average index is 250 The monetary gain or loss on holding monetary assets of the business is:
a.
Loss of RO 9000
b.
None of the options listed are right.
c.
Gain of RO 3900
d.
Loss of RO 3,900
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