Spot out the odd one and state reason
Gas
Fuel
Motive power
Wages
Trading a/c shows the
Net profit or net loss
Gross profit or gross loss
Surplus or deficit
None of these
________ is a real surplus available for distribution.
Gross profit
Net Loss
Gross Loss
Net Profit
Balance of trading account is transferred to _________ a/c.
Capital
Profit & Loss A/c
Profit & Loss Appropriation
The balance sheet shows the nature and value of assets and the nature and value of liabilities of a
Gain period
Gain date
All of these
Those expense which are incurred for bringing the goods at trading place or for manufacturing it are __________.
Direct Expense
Indirect expense
Direct income
Indirect Income
If credit side of profit and loss account exceeds the direct side, the result is ____________.
Net loss
Gross loss
Net profit
Rahul's trial balance provide you the following information debtors Rs. 80,000 Bad debits Rs.2,000 Provision for Bad debits 4,000. It is derived to maintain a provision for bad debt of Rs. 1,000. State the amount to be debited/credited in profit and loss account.
Rs. 5,000 (Debit)
Rs. 3,000 (Debit)
Rs. 1,000 (Credit)
Assets are shown on the _________ hand side of Balance sheet.
Right
Left
Investors have to review the _________ of the business to take an investment decision.
Performance
Profitability
Long term and short term financial soundness
