Which of the following account is affected from the Drawings of cash in sole- proprietorship business?
All direct expenses are ___ to Trading account and all indirect expenses are debited to Profit and Loss account
Creating Provision against fluctuation in the price of investment is an example of which accounting convention
Types of account shown in the balance sheet are
Accrued income is
Rent receivable (given in trial balance) is an item of:
Which of the following is another of EBIT (earning before interest and taxes)?
Calculation of Operating profit
_____ is the arrangement of various assets and liabilities in a particular order
Which of the following account is affected from the Drawings of cash in sole- proprietorship business?
Drawings account is a:
According to Principle of Conservatism
Revenue expenditure is intended to benefit _________.
Any expenditure incurred in order to reduce the operating expenses is ________.
Wages paid for erection of machinery are debited to __________.
Preliminary expenses are
Amount paid for acquiring goodwill is __________.
The main purpose of this _______ accounting is to ascertain profit or loss during a specific period, to show financial position of the business.
Financial accounting aims at presenting 'true and fair' view of transactions, profit and loss for a period and Statement of financial position (Balance Sheet) on a given date. It aims at computing 'true and fair' view of the cost of production/services offered by the firm.
Which of the following is false regarding capital expenditure
Which of the following are an example of Revenue Expenditure
(a) Preliminary expenses for floating a company
(b) Renewal expenses/fee of patent.
(c) Depreciation on fixed assets.
(d) Repair of machinery normal or due to negligence of operator
(e) Expenses for obtaining a license.
Options are as follows
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