1.
Closing Stock, if given outside the Trial Balance is shown in:
1 out of 10
2.
A new firm commenced business on 1st January, 2017 and purchased goods costing ₹ 90,000 during the year. A sum of ₹ 6,000 was spent on freight inward. At the end of the year the cost of goods still unsold was ₹ 15,000 (Realisable Value ₹ 12,000). Sales during the year was ₹ 1,20,000. What is the gross profit earned by the firm?
2 out of 10
3.
If closing stock appears in Trial Balance then it will be appearing in:
3 out of 10
4.
Prepaid Expenses, if given outside the Trial Balance is shown in:
4 out of 10
5.
Accrued Income, if given outside the Trial Balance is shown in:
5 out of 10
6.
Income tax in case of sole trader is treated as:
6 out of 10
7.
Income Received in advance, if given in the Trial Balance is shown in:
7 out of 10
8.
Provision for Doubtful Debts is made on the debts that are:
8 out of 10
9.
Rent paid on 1st October, 2015 for one year upto 30th September, 2016 was ₹ 2,400. Rent paid on 1st October, 2016 for the year upto 30th September, 2017 was ₹ 3,200. Rent shown in the Profit and Loss Account for the year ended on 31st December, 2016, would be:
9 out of 10
10.
Heavy amount spent for the advertisement of new company product is:
10 out of 10