WorksheetsEngaging Starter Trading Account
Total questions: 13
Worksheet time: 7mins
Expenses related to bringing goods to the store or warehouse are called ________.
Direct Expenses
Indirect Expenses
Assets
Capital
Which type of expenses are recorded in the Trading Account?
Indirect Expenses
Direct Expenses
Operating Expenses
Capital Expenses
Carriage Inward is recorded in which account?
Profit & Loss Account
Trading Account
Balance Sheet
Capital Account
Net Purchases are calculated as:
Purchases + Purchase Returns
Purchases − Purchase Returns
Sales − Sales Returns
Purchases + Sales
Net Sales are calculated as:
Sales + Sales Returns
Sales − Sales Returns
Sales + Purchases
Purchases − Sales
Carriage Outward is treated as a(n) ______ expense.
Direct
Indirect
Manufacturing
Capital
Which of the following items appears in the Profit and Loss Account?
Opening Stock
Carriage Inward
Rent and Salaries
Closing Stock
Net Profit or Net Loss is determined from which statement?
Profit & Loss Account
Trading Account
Balance Sheet
Cash Book
Rent of office and salaries of admin staff are examples of ________.
Direct Expenses
Indirect Expenses
Trading Expenses
Capital
Custom Duty paid on imported goods is a ______ expense.
Office
Selling
Direct
Indirect
In the Trading Account, “Clearing Charges” will be recorded on the ______ side.
Credit
Debit
Both sides
Not recorded
Gross Profit is determined from which statement?
Balance Sheet
Profit & Loss Account
Trading Account
Trial Balance
Which statement shows the Assets, Liabilities, and Capital of a business?
Profit & Loss Account
Balance Sheet
Trading Account
Trial Balance
