| 1 |
Gross profit represents |
- A. Opening stock + purchases
- B. closing stock + direct expenses - sales
- C. closing stock-purchases-direct expenses + sales
- D. purchases - sales
|
| 2 |
Bad debts recovered should be credited to |
- A. Balance Sheet
- B. Trading a/c
- C. Profit & Loss a/c
- D. None of these
|
| 3 |
The creditor of the business are called: |
- A. Assets
- B. Liabilities
- C. Capital
- D. Income
|
| 4 |
Profit & Loss a/c is prepared to ascertain |
- A. Gross Profit
- B. Net Profit
- C. Gross Loss
- D. Real Profit
|
| 5 |
Wages paid for installing a machine should be debited to |
- A. Wages a/c
- B. Cash a/c
- C. Machinery a/c
- D. none of these
|
| 6 |
Goods withdrawn by the proprietor for personal use should be credited to |
- A. Purchase a/c
- B. Drawings a/c
- C. Expenses a/c
- D. Revenue a/c
|
| 7 |
The concession given by the supplier to the buyer on purchases of good is known as: |
- A. Sales discount
- B. Trade discount
- C. Purchase discount
- D. Discount received
|
| 8 |
The debts, the recovery of which is uncertain are called |
- A. Unbelievable debts
- B. unrealized debts
- C. doubtful debts
- D. both b and c
|
| 9 |
Rent account' is a kind of: |
- A. Real account
- B. Personal account
- C. Nominal account
- D. <div>Capital account</div>
|
| 10 |
Interest paid on loan is |
- A. Abnormal Loss
- B. Financial Expenses
- C. Management Expenses
- D. Maintenance Expenses
|
