Investors have to review the _________ of the business to take an investment decision.
Performance
Profitability
Long term and short term financial soundness
All of these
The payments made to the owner for using his right or patent are called _________.
Excise duty
Octroi duty
Royalty
None of these
Net Loss will be _________ from the Capital account.
Debited
Deducted
Both a and b
Financial statement present a true and fair view of the ________ of the business.
Profit/loss
Assets/liabilities
Adjustment given outside the trial balance are shown _______ in final a/c to complete the accounting procedure.
Once
Twice
Thrice
There is no debit side and no credit side on _______.
Trading a/c
Profit and loss a/c
Manufacturing a/c
Balance sheet
If advance sales tax is mentioned on the debit side of trial balance, it will be shown on the _________ side of Balance sheet.
Asset
Liability
Both side
Unaffected
Office and administration expenses is an__________ expenses
Direct
Indirect
The Balance of Manufacturing account indicates
Cost of goods sold
Value of opening stock
Cost of goods Manufactured
A _______ will, naturally, have no opening stock in the first year.
Existing business
New business
Proposed business