Trading Account

Return Inward in the Trial Balance is deducted from

• Sales

• Purchases

• Return Outward

• Gross Profit

Sales are equal to

• Cost of Goods sold + Gross Profit

• Cost of Goods Sold-Gross Profit

• Gross profit - Cost of Goods Sold

• Purchases + Gross Profit

Which type of expenses out of the following are shown in Trading account?

• Indirect Expenses

• Direct Expenses

• Opening Expenses

• Direct and Indirect Expenses

Which of the following is not shown in the Trading Account?

• Purchases

• Sales

• Wages

• Commission Received

Carriage Inward is shown in

• Profit & Loss Account

• Balance Sheet

• Trading Account

• Trading & Profit & Loss Account