WEEKLY QUIZ 02

INCOME DUE BUT NOT RECEIVED IS KNOWN AS

• UNEARNED INCOME

• ACCRUD INCOME

• INDIRECT INCOME

WHICH OF THE FOLLOWING IS SHOWN IN THE DEBIT SIDE OF PROFIT AND LOSS A/C

• INDIRECT INCOME

• INDIRECT EXPENSE

• DIRECT INCOME

SUNDRY DEBTORS IS ALSO KNOWN AS 

• ACCOUNTS RECEIVEBLE

• ACCOUNTS PAYABLE

• BAD DEBTS

WHICH OF THE FOLLOWING IS PREAPARED TO ANALYZE THE FINANACIAL POSITION OF THE BUSINESS

• BALANCE SHEET

• JOURNAL

• TRAIL BALANCE

GOODWILL IS A …..... ASSET

• CURRENT ASSET

• TANGIBLE ASSETS

• INTANGIBLE ASSETS

STOCK AT THE STARTING OF AN ACCOUTING PERIOD IS KNOWN AS

• OPENING STOCK

• CLOSING STOCK

• RAW MATERIALS

UNEARNED INCOME IS TREATED AS

• ASSET

• LIABILITY

• EQUITY

WHICH OF THE FOLLOWING IS A METHOD OF DEPRECIATION

• STRAIGHT LINE METHOD

• ACCRUAL METHOD

• CASH METHOD

THE ACCOUNTING EQUATION IS

• ASSETS=LIABILITIES-CAPITAL

• CAPITAL=ASSETS+LIABILITIES

• ASSETS=LIABILITIES+CAPITAL

THE FIRST 2 DIGITS OF GSTIN INDICATES

• STATE CODE

• ENTITY CODE

• PAN