At the time of preparation of trial balance, the valuation of closing stock is ____________
Optional
Compulsory
None of these
All of these
Another name of cartage is _______.
Carriage on purchase
Freight
Carriage inwards
Tax which is paid to government on import and export of goods is known as _________.
Import & Export duty
customs duty
Both a and b
___________ assets are those which are in the form of cash or those which are easily convertible into cash.
Current
Liquid
Contingent
Wasting
Expenses paid to increase the sale of goods are ____________.
Selling and distribution expenses
Office and administration expenses
Miscellaneous expense
Account in balance sheet are to be arranged in order of either _________ or ___________.
Liquidity or permanence
Personal or nominal
real or personal
The information contained in a _________ is true only at that particular point of time to which it is prepared .
Trading a/c
Profit & Loss a/c
Profit & Loss appropriation
Balance sheet
By following the principle of conservation closing stock is valued at _________.
Cost price
Market price
Cash price or market price which ever in lower
Spot out the odd one and state reason
Direct wages
Productive wages
Manufacturing wages
Trading account
The result of trading account is an important increase of the __________ of the business.
Progress
Deterioration
Both a or b