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Question-1
There is no debit side and no credit side on _______.
(A)
Trading a/c
(B)
Profit and loss a/c
(C)
Manufacturing a/c
(D)
Balance sheet
Question-2
_________ is only a 'book profit', not available for distribution.
(A)
Net profit
(B)
Net Loss
(C)
Gross loss
(D)
Gross profit
Question-3
Octroi duty is a _________ Expenses
(A)
Direct expenses
(B)
Indirect Expenses
(C)
None of these
(D)
Both of these
Question-4
Expenses paid for management of business is called __________.
(A)
Miscellaneous expenses
(B)
Selling and distribution expenses
(C)
Office and administration expenses
(D)
None of these
Question-5
The value of opening stock are brought in the books by man of an entry, identify the correct entry.
(A)
Trading a/c Or To purchases
(B)
Trading a/c or To stock a/c (opening)
(C)
Stock a/c Or (opening) To Trading
(D)
None of these
Question-6
Financial statement present a true and fair view of the ________ of the business.
(A)
Profit/loss
(B)
Profitability
(C)
Assets/liabilities
(D)
All of these
Question-7
Spot out the odd one and state reason.
(A)
Current assets
(B)
Assets
(C)
Circulating assets
(D)
Block assets
Question-8
_________ is paid on goods manufactured and consumed in the country.
(A)
Excise duty
(B)
Import duty
(C)
Export duty
(D)
Octroi
Question-9
Balance of trading account is transferred to _________ a/c.
(A)
Capital
(B)
Profit & Loss A/c
(C)
Profit & Loss Appropriation
(D)
None of these
Question-10
_________ are expenses paid for bringing or loading or unloading the goods.
(A)
Bonus
(B)
Salary
(C)
Wages
(D)
Commission
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Plus 1 Commerce
ICSE/ISC
Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
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