Profit and loss of the firm cannot be revealed through
Profit & Loss a/c
Balance Sheet
Trial Balance
None of these
____________ statements are those statements which shows the financial position and result of the business activities.
Income statement
Financial statement
All of these
Wages is a ________ expenses.
Direct
Indirect
The realizable value of the scrap is credited to the _________ A/c.
Manufacturing
Trading
P & L
Balance sheet
Trading account is also termed as _____________a/c.
Purchase a/c
Sales a/c
Goods a/c
Balance of trading account is transferred to _________ a/c.
Capital
Profit & Loss A/c
Profit & Loss Appropriation
Trading account is a ________ a/c in nature.
Nominal
Real
Personal
Expenses which are incurred for bringing the goods, purchased from the place of vender to the shop or factory are called _________.
Carrying expenses
Freight
Carriage inwards
The value of opening stock are brought in the books by mistake of an entry, identify the correct entry.
Trading a/c Dr To purchases
Trading a/c Dr To stock a/c (opening)
Stock a/c Dr (opening) To Trading
If advance sales tax is mentioned on the debit side of trial balance, it will be shown on the _________ side of Balance sheet.
Asset
Liability
Both side
Unaffected
