A balance sheet is a:
A balance sheet is a:
statement of profit earned by a business | |
financial statement of a business on a particulars date | |
statement of income and expenditure | |
statement of debtors and creditors |
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Net sales are equal to sales minus:
Net sales are equal to sales minus:
returns outwards | |
returns inwards | |
carriage on sales | |
cost of goods sold |
Drawings are deducted from:
Drawings are deducted from:
income | |
capital | |
sales | |
expenses |
Which account is a summary of direct expense and direct reve
Which account is a summary of direct expense and direct revenues:
balance sheet | |
trading account | |
trading and profit or loss account | |
profit or loss account |
Profit or loss appropriation account is not prepared in the
Profit or loss appropriation account is not prepared in the case of:
sale tradership | |
partnership at will | |
partnership | |
joint stock company |
Gross profit equals to:
Gross profit equals to:
sales minus cost of goods sold | |
purchases minus closing stock | |
sales minus closing stock | |
net profit minus expenses |
It is prepared to determine the net profit or net loss:
It is prepared to determine the net profit or net loss:
profit or loss account | |
cash book | |
trading account | |
balance sheet |
It shows amount withdrawn by the proprietor of the business
It shows amount withdrawn by the proprietor of the business or shows a reduction in owner’s equity.
drawings account balance | |
cash account balance | |
capital account balance | |
bank account balance |
It shows the amount paid to the employees of the business du
It shows the amount paid to the employees of the business during the year.
rent account balance | |
freight account balance | |
wages account balance | |
salaries account balance |
It shows the amount paid to the owner of the building during
It shows the amount paid to the owner of the building during the year:
rent account balance | |
building account balance | |
advertisement account balance | |
publicity charges account balance |
It represents the amount spent on the loading and un-loading
It represents the amount spent on the loading and un-loading of the goods.
wages account balance | |
rent account balance | |
travelling charges account balance | |
carriage account balance |
It shows the amount spent on carrying the goods to the godow
It shows the amount spent on carrying the goods to the godown of the business.
drawings account balance | |
freight account balance | |
rent account balance | |
carriage account balance |
It shows the stationery used in the business during the mont
It shows the stationery used in the business during the month.
wages account balance | |
Stationery Account Balance | |
printing charges account balance | |
none of these |
It gives us the information about the total sales that have
It gives us the information about the total sales that have been made during the year.
purchases account balance | |
sales account balance | |
fixed deposits account balance | |
stock in trade |
It reflects the total purchases that have been made during t
It reflects the total purchases that have been made during the month.
purchases account balance | |
investment made | |
stock in trade | |
sales account balance |
It represents our deposits with the bank at the end of the m
It represents our deposits with the bank at the end of the month.
drawings | |
loan from bank | |
bank balance | |
capital fund |
It represents the amount of Cash available at the end of the
It represents the amount of Cash available at the end of the month.
cash in hand | |
stock in trade | |
purchases a/c | |
capital A/c balance |
It shows us the investment made by the proprietor into the b
It shows us the investment made by the proprietor into the business.
stock in trade | |
cash in hand | |
capital A/c balance | |
purchases a/c |
A cheque with two parallel lines drawn on its face is called
A cheque with two parallel lines drawn on its face is called:
an order cheque | |
None of these | |
a crossed cheque | |
a bearer cheque |
A bank reconciliation statement is prepared by:
A bank reconciliation statement is prepared by:
government | |
accountant | |
none of these | |
bank |