WHITE BELT

Profit & Loss A/c statement will help Jay, to know __________ for Starlit InfoTech.

• Revenue & Expenses
• Receipts & Payments
• Revenue
• Expenses

Income generated by Starlit InfoTech from the sale of goods is termed as _________?

• Profit
• Revenue
• Loss
• Expenses

Money that Starlit InfoTech spends to meet expenses to run the business is termed as _________?

• Profit
• Revenue
• Loss
• Expenses

________________ is the report which will help Jay to know what Starlit InfoTech owns and owes at specific point in time.

• Profit & Loss A/c
• Trial Balance
• Journal Book
• Balance Sheet

__________________ are the things that Starlit InfoTech owns.

• Income
• Liabilities
• Assets
• Expenses

If Starlit InfoTech delivers stock to their client but do not receive amount immediately for the goods delivered, the amount which client owes to Starlit InfoTech will be treated as _________________?

• Accounts Payable
• Accounts Receivable
• Profit
• Loss

Amount invested by Jay to start his company i.e. Starlit InfoTech is called as _____________?

• Drawings
• Assets
• Expenses
• Capital

Which of the following is available to users of Starlit Infotech in educational version ?

• A) Auto Bank Reconciliation
• B) Multi-account printing
• C) Tally on Browser
• D) Transaction on 1st, 2nd and 31st

While creating Jay’s Capital A/c, you will group the ledger account under ____________

• Current Assets
• Fixed Assets
• Bank Account
• Capital Account

When Jay makes payment towards conveyance expenses through cash, he will record this transaction in which voucher?

• Receipt
• Journal
• Purchase
• Payment