COMMERCE QUIZ

Find the odd one.

• Journal

• Ledger

• Accounts

• Invoice

Goodwill is a:

• Liquid asset

• Fictitious asset

• Current asset

• Intangible asset

Which of the following is a current liability?

• Debenture

• Long term loan

• Bank overdraft

• Share premium

Ledger is a ________ report.

The process of identifying,selecting and implementing the best possible alternative is called ____________.

Processed data is called _________.

Balance sheet is prepared to find out ________.

• Capital

• Net profit

• Gross profit

• Financial position

Closing stock is ________.

• Asset

• Income

• Expense

• Liability

Trading account is a nominal account.

• True

• False

Drawing account is a personal account.

• True

• False