Stock on hand is the amount of goods which are lying unsold as at the end of an accounting period is called:
Opening stock
Closing stock
Stock in hand
Semi finished goods
Which are assets held on a long - term basis?
Current assets
Fixed assets
Preliminary expense
Fictitious assets
Expenses incurred for acquiring fixed assets.
Revenue expenditure
Capital expenditure
Normal expenditure
Operating costs
Which are the economic resources of an enterprise that can be usefully expressed in monetary terms?
Assets
Liabilities
Sales
Revenues
Assets acquired with the intention of converting into cash .
Intangible assets
Wasting assets
Which accounting assists keeping a systematic record of financial transactions?
Management accounting
Financial accounting
Cost accounting
Audit accounting
Which are the total amount of goods procured by a business on credit and on cash for sale?
Purchases
Purchase Return
Sales Return
Amount invested by the owner in the firm is known as:
Revenue
Profit
Capital
Drawings
The excess of revenues of a period over its related expenses during the accounting year.
Loss
Discount
Which are the total revenue from goods or services provided to customers?
