The gross profit measured as a percentage of selling price is:
Mark-up
Balance
Margin
Stock turn over
Where will you get information about opening stock?
List of opening assets
List of closing assets
Sales
Income
Accounts under this system are NOT acceptable to tax authorities.
Single entry
Double entry
Incomplete entry
No entry
Trial balance is prepared to check the arithmetical accuracy. This is the feature of:
Capital = ?
Asset + Liabilities
Income + Revenue
Asset - Liabilities
Asset + Income
Margin is a:
Cost price
Selling price
Invoice price
Detached price
The full set of account helps in the preparation of:
Final accounts
Trading income
Nominal account
Real account
Amount received from debtors is:
Equal to credit sale
Does not equal to credit sale
It might be equal
Depend upon the firm
What is the other name of incomplete entry?
Single
Double
Dual
Triple
Which type of systems of accounting is accepted by tax authorities?
Dual entry