account 2nd CA

The trading account does not include:

• Carriage inward

• Direct expenses

• Indirect expense

• Closing stock

Which of the following does not appear in a Trading Account?

• Sales

• Gross profit

• Rent expenses

• Opening stock

The opening stock of a business is recorded on the:

• Debit side of the Trading Account

• Credit side of the Trading Account

• Liabilities side of the Balance Sheet

• Assets side of the Balance Sheet

-- can be used to identify the journal entries.

• Account details

• Single colum

• Pin code

• Folio number

A specific amount given to petty cashier is called --

• A petty cash

• Fixed cash

• Float

• All of the above

Petty cash book must be included in the --

• Cash book

• Folio

• Trading account

• Trial balance

The major thing that makes double column cash book different from three column is the inclusion of --

• Bank

• Bank and cash

• Discount

• Discount and cash

Closing stock - cost of goods available for sale equals ?

• Cost of goods available for sale

• Gross profit

• Cost of goods sold

• Opening stock

Purchase return is also known as --

• Return outward

• Return inward

• Sales return

An account that is prepared to ascertain the gross profit or gross loss is --

• Trading account

• Profit or loss account

• Balance sheet

• Trading,profit and loss account