Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Which one of the following is a direct expense?	Custom duty Carriage Wages All of above
2	Net sales equal to	Sales - Returns outwards Sales + Returns inwards Sales - Returns inwards Purchases - Returns inwards
3	Net purchases are equal to	Sales - returns outwards Purchases + returns inwards Purchases - returns outwards Purchases + returns outwards
4	The gross amount of goods sold or services performed during an accounting period is known as	Purchase Sale Gross profit Net profit
5	Cost of goods sold is equal to	sales - purchases purchases + closing stock - returns outwards Opening stock - closing stock + purchase + returns inwards Opening stock + purchases - returns outwards - closing stock

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