Which account is usually prepared to find out the capital?
Balance sheet
Statement of affairs
Final account
Trading
Which one is a method of ascertaining the profit and loss of a firm?
Statements of affairs
Profit & loss account
Single entry
Double entry
The system is economical as lesser number of books need to be maintained. It is the advantage of:
Incomplete entry
No entry
The number of times a business replaces its stock in a given period of time.
Mark-up
Balance
Margin
Stock in turn over
Where will you get information about opening stock?
List of opening assets
List of closing assets
Sales
Income
Trial balance is prepared to check the arithmetical accuracy. This is the feature of:
Some small businessmen do not maintain the complete books of account. Why?
It is by law
Unawareness
They don't have time
By the rules of society
The gross profit measured as a percentage of selling price is:
Stock turn over
Statement of affairs is prepared in the time of:
Full set of accounts maintained
Full set of accounts not maintained
As per government instruction
As per the MOA
Margin is a:
Cost price
Selling price
Invoice price
Detached price
