Stock Drawings

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:28AM in AAT student discussion
Basic question I know, but have a multiple choice paper that has confused me at the very beginning of my course- haven't even got my study pack yet!<BR><BR>Stock drawings, are they:<BR><BR>a) goods taken from stock by the owner for their own personal use<BR><BR>or <BR><BR>b) forecasts of stock likely to be bought in the next financial year?<BR><BR>I think a- but am unsure the phrasing is 100% correct<BR><BR>I have a third option of c) share value forecasts- but didn't think it was that.<BR><BR>Can anyone help?<BR><BR>Many Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Drawings

    Hi Debs. Drawings are always for the owners personal use, so you are right in thinking it's a).<BR><BR>Scotty.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Drawings

    Yes, as you thought - the answer is a) goods taken out of the business by owner for own use.<BR><BR>Graham Blott
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Drawings

    While we are on the topic of stock drawings; are they drawn at cost price or sales price ?
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Stock Drawings

    Cost price.

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