Final Accounts

The Accounts which is prepared at the end of the years is called____________

• Final Summaries
• Final Accounts

• End of Year Reports
• Yearly Statements

Name the Partnership Act___________

• The Indian Partnership Act, 1942
• The Partnership Act, 1922
• The Partnership Act, 1952
• The Indian Partnership Act, 1932

Trading Account includes ______________ expenses and income

• administrative expenses and income
• trading expenses and income
• capital expenses and income
• operating expenses and income

Profit and Loss Inculdes _____________ expenses and Incime

• losses and earnings
• expenses and outcome
• Office expenses and income

• costs and revenue

With the help of Trading account we are able to Find out _______ Profit or loss

• Gross Profit or loss

• Growth
• Revenue
• Dividends

With the help of Profit and Loss Account we are able to find Out _________

• gross profit or loss
• revenue or expenses
• net profit or loss
• operating profit or loss

____________ is a statement financial statement.

• Balance sheet
• Cash flow statement
• Income statement
• Budget report

Salary comes in ___________

• Trading account

• Profit and Loss account

• Baancesheet

• Cash a/c

Wages comes in

• Trading a/c

• Profit and loss a/c

• Balancesheet

• Ledger a/c

Bank Loan is a _________

• Liability

• Asset

• Income

• Expense