UNIT - 2 FINAL ACCOUNTS
Authored by BRINDHADEVI CHINNASWAMY
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
where do we show wages&salary ?
trading credit side
trading debit side
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
return outward is deducted from ?
sales
purchase
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
what is the start date for financial year?
1st January
1st April
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
where do we show closing stock in trading account
trading account debit side
trading account credit side
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The accounting equation
assets=liabilities - owner's equity
assets=liabilities + owner's equity
assets + liabilities = owner's equity
assets + owner's equity = liabilities
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The figure remaining at the end of a trading account is known as the
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cost of Sales is
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