i. Stock at the end of the financial year
ii. Stock at the beginning of the financial year
iii. Drawings
iv. Prepaid Rent
v. Interest received but not yet earned
A. Only (i) above
B. Only (iii) above
C. Both (i)and (iii) above
D. (i), (iii), (iv) and (v) above
A. Results of operations for a particular period
B. Financial position during a particular period
C. Profit earning capacity for a particular period
D. Financial position as on a particular date
A. Balance Sheet discloses financial position of the business
B. A person who owes to the business is called Debtor
C. Decrease in the value of the asset could decrease the value of a liability
D. Assets are to be shown in the Balance Sheet at the realizable value
A. On the assets side under current assets
B. On the assets side under loans and advances
C. On the liabilities side under current liabilities
D. On the liabilities side under provisions
A. Sundry Debtors
B. Stock
C. Prepaid insurance
D. All of A. B. and C. above
A. Stock
B. Vehicle
C. Fixed deposit in bank
D. Both A. and C. above
A. Credited to the Profit & Loss Account
B. Debited to the Profit & Loss Account
C. Shown on the liabilities side of the Balance Sheet
D. Shown on the assets side of the Balance Sheet
A. Profit and Loss Account
B. Balance Sheet
C. Funds Flow Statement
D. Trial Balance
A. Drawings
B. Bad debts
C. Accrued expenses
D. Reserve for discount on Sundry Creditors
A. Financial results of the concern for a period
B. Financial position of the concern on a particular date
C. Financial results of the concern on a particular date
D. Cost of goods sold during the period