
ACC1-CH.6+7
Authored by Khoa Hà
English
University
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25 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
based on the data in the trial balance, we can prepare.....
Balance sheet (assets = capital + liabilities)
Trading and profit and loss accounts
1. Trading and profit and loss accounts
2. Balance sheet (assets = capital + liabilities
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Net profit is calculated by drawing up ...........................................
the Profit and Loss Account
Trading Account
Trading and Profit and Loss Account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Gross profit is calculated by drawing up ...........................................
the Profit and Loss Account
Trading Account
Trading and Profit and Loss Account
4.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
............................... is the amount in the trading account by which sales income exceeds the cost of goods sold.
5.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
............................. is the profit remaining after “other costs” (eg: wages& salaries, office expenses….) have been deducted from gross profit.
6.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
Trading and Profit and Loss Account is a ........................... account, including Trading account (1) & Profit and loss account (2)
7.
FILL IN THE BLANK QUESTION
30 sec • 1 pt
.......................... = Sales – Cost of goods sold
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