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Quiz On Final Accounts

Authored by DEEPA AGRAWAL

Business, Other

11th Grade - University

Used 8+ times

Quiz On Final Accounts
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40 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trading account is prepared to find out

Net Profit or Loss

Gross Profit or Loss

Financial Position

Profit or Loss

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Opening stock is...

Debited in trading account

Credited in trading account

Debited in Profit & Loss account

Credited in profit & Loss account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Wages is an example of

Direct Expense

Indirect Expense

Capital Expense

Revenue Expense

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Profit and Loss account would not include

Salaries

Carriage on sales

Rent received

Drawings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Copyrights, Patents and Trademarks are

Current Assets

Fixed Assets

Intangible Assets

Liabilities

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Balance Sheet is prepared

for a period

on a particular date

for life of the business

None of the above

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Depreciation account appearing in the trial balance is shown in

Profit & Loss account

Trading account

Deducted from the concerned assets A/c

Shown on Liability side

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