Spot out the odd one and state reason
Block assets
Long term assets
Fixed assets
Floating assets
___________ can be prepared so many times a year.
Final a/c
Trial Balance
None of these
Both of these
Bank over draft should be classified as an item of _____________.
Current Liability
Current Asset
Fixed asset
Balance of P & L a/c is transferred to ________ a/c.
P & L Appropriation a/c
Balance sheet
Capital a/c
The Balance of Manufacturing account indicates
Cost of goods sold
Value of opening stock
Cost of goods Manufactured
Spot out the odd one and state reason.
Interest on loan
Interest on capital
Repair charges
Carriage outwards
Balance sheet present the financial position of a concern based on the principle of __________.
Dual aspect
Business entity
Going concern
All of these
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
Only personal and real a/cs are shown on _________.
P & L a/c
Trading a/c
Balance Sheet
Trial balance is not accepted by the court as _________.
Legal evidence
Authentic statements
Proof of accounting
