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The transportation cost incurred by a seller to deliver goods to a buyer's location.

• Carriage inward

• Commission received

• bank overdraft

• Carriage outward

example of expenses are :-

• commission allowed

• purchases return

• Trade receivable

• Mortgage

Non-current asset are...

• items that have to be paid within a year of the balance sheet date

• items that have to be paid more than a year after the balance sheet

• items that are bought primarily to be sold and used in a business for a long time

• items that are not bought primarily to be sold but used in a business for a long time

Trading account is prepared to determine the...

• profit for the year

• gross profit

• expenses

• debited or credited item

what is the maximum numbers of directors required for a private limited company?

• 2 directors

• 4 directors

• 12 directors

• 15 directors

Two of the advantages of Private Limited Companies are:

• Limited capital , tax benefits

• separate legal entity , ownership and control

• disclosure limitations, tax benefits

• separate legal entity , fund raising

Characteristic Of Private Ltd companies ?

• Legal compliance

• limited expenses

• public nature

• Owner's equity