Trading account is a ________ a/c in nature

A balance sheet is only a _________ and not an account.

Sales under disputes is an example of _________ liability

Contingent liabilities are never recorded in the books but always stated as ________ in the balance sheet as information

Trading account shows the result of __________ activities of a business.

Fictitious assets are also called as ________.

Spot out the odd one and state reason

At the time of preparation of trial balance, the valuation of closing stock is ____________

Expenses paid to increase the sale of goods are ____________.

_____is the excess of sale proceeds over the cost of goods sold.