Spot out the odd one and state reason
Freight
Carriage inwards
Carriage on purchase
Carriage on sale
Expenses which are incurred for bringing the goods, purchased from the place of vender to the shop or factory are called _________.
Carrying expenses
All of these
Another name of cartage is _______.
If Sales Tax collected or 'Sales Tax' is mentioned on the credit side of trial balance, it will be shown on the ______ side of Balance sheet.
Asset
Liability
Both side
Unaffected
________ is a summary of all accounting records.
Balance sheet
Trial Balance
Trading a/c
Profit and loss account
Identify the reason: why closing stock is given outside the trial balance.
It is an adjustment entry
It is the nature of closing stock that it always shown outside the treat balance
Value is ascertained after preparation of trial balance
None of these
If the value of closing stock is shown by means of a/c _________.
Journal entry
Rectification entry
Adjusting entry
Profit and loss of the firm cannot be revealed through
Profit & Loss a/c
Balance Sheet
For the preparation of ________ it is not necessary to close the accounts.
Profit & Loss A/c
Expenses incurred to run the factory are termed as __________.
Manufacturing expense
Wages
Production wages