1. Which of the following account balance is shown on debit side of Trial Balance?
(It is assumed that all account balances are shown on normal balance).
a. Capital account
b. Sundry creditors account
c. Accounts payable account
d. Sundry debtors account
2. If cost of sales is Rs. 95,000, income from sales Rs. 200,000 and operating
expenses Rs. 300,000. What will be net result?
a. Rs.195,000 Losses
b. Rs.195,000 Profits
c. Rs.105,000 Profits
d. Rs.105,000 Losses
3. In which of the following statement opening stock is shown?
a. Profit and loss account
b. Balance sheet
c. Cash flow statement
d. Owner’s equity
4. Working capital Rs. 20,000, Current liabilities Rs. 30,000 and fixed assets Rs.
100,000; calculate current assets?
a. Rs. 10,000
b. Rs. 50,000
c. Rs. 110,000
d. Rs. 120,000
5. Which of the following content(s) is (are) included in the Cost of goods sold?
a. Opening stock
b. Purchases
c. Freight in
d. All of the given options
(It is assumed that all account balances are shown on normal balance).
a. Capital account
b. Sundry creditors account
c. Accounts payable account
d. Sundry debtors account
2. If cost of sales is Rs. 95,000, income from sales Rs. 200,000 and operating
expenses Rs. 300,000. What will be net result?
a. Rs.195,000 Losses
b. Rs.195,000 Profits
c. Rs.105,000 Profits
d. Rs.105,000 Losses
3. In which of the following statement opening stock is shown?
a. Profit and loss account
b. Balance sheet
c. Cash flow statement
d. Owner’s equity
4. Working capital Rs. 20,000, Current liabilities Rs. 30,000 and fixed assets Rs.
100,000; calculate current assets?
a. Rs. 10,000
b. Rs. 50,000
c. Rs. 110,000
d. Rs. 120,000
5. Which of the following content(s) is (are) included in the Cost of goods sold?
a. Opening stock
b. Purchases
c. Freight in
d. All of the given options