Customers/Clients for a business can be classified under which Accounting Group?

• Sundry Debtors
• Capital
• Purchases
• Indirect Expenses

Furniture bought by a hardware dealer should be grouped under ____________

• Fixed Assets
• Current Liabilities
• Stock in hand (Closing stock)
• Purchases

Which report will help the user to view all the transactions recorded for a day. Further, he may also choose to view all the transactions for a specific period via this report, which report is it?

• Day Book
• Trading A/c
• Balance Sheet
• Profit and Loss A/c

You will use ____________ voucher to record a transaction for depositing cash into your Bank account.

• Contra
• Purchase
• Material In
• Physical Stock

A transaction of transferring the goods from one godown to another godown, will be recorded in _________________ voucher type.

• Stock Journal
• Delivery Note
• Sales
• Journal

Which functionality will help you do a month on month comparative analysis of your expenses and incomes?

• Auto Column
• Show Profits
• Alter column
• Sorting method

Gross profit is the profit a company makes after deducting the costs associated with making and selling its products. Gross profit can be viewed in ___________

• Trading A/c
• Profit and Loss A/c
• Trial Balance
• Balance Sheet

Which of the following is an asset?

• Goodwill
• Loan taken
• Capital
• Income

Rajesh purchased goods from Anup and agreed to pay for the same two weeks later. In the books of Rajesh, Anup will be considered a _______________

• Creditor
• Debtor
• Proprietor
• Employee

Inventory can be valued based on many costing methods. Which one of the following is not a costing method for Inventory valuation?

• GIGO
• FIFO
• LIFO
• Avg Cost