Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Which of the following discloses the financial position of the business	Trading account Profit or loss account Profit or loss appropriation account Balance sheet
2	It is prepared to determine the net profit or net loss	Trading account Profit or loss account Cash book Balance sheet
3	It is prepaid to determine the gross profit or gross loss	Trading account Profit or loss account Balance sheet None of these
4	Unfavorable balances mean	Credit balance in the pass book Credit balance in the cash book Debit balance in bank statement Both b & c
5	The favorable balance of bank statement is	Credit balance Debit balance Zero balance All of these

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