- Revenue expenditure
- Differed revenue expenditure
- Capital expenditure
- None of these
- b
- Balance sheet
- Trading account
- Profit & loss account
- None of these
- b
- Personal account
- Nominal account
- Asset account
- Real account
- b
-
Nominal Account is also known as Temporary Account.
- Journal entry
- Compound entry
- Adjusting entry
- Reversing entry
- b
-
In this entry, more than account debit and more than one account credit.
- Accounts receivables
- Insurance expense
- Cash
- Accounts payable
- b
-
Temporary Account is a such account that is needed to close at the end of fiscal year.(1st July-30th June)
- Gross profit
- Cost of goods sold
- sales revenue section
- All of the given options
- d
-
Income Statement shows company’s income and expenses.
- Sole proprietorship
- Corporation
- Limited companies
- Partnerships
- a
-
Sole Proprietorship means a single person running a business.
- Cash and equivalents
- Deferred income
- Accounts receivable
- Prepaid expenses
- b
-
Cash
Cash Equivalents
Accounts Receivable
Stock Inventory / Prepaid Expenses
Marketable Securities
- Generally Accepted Accounting Principles
- General Accounting Assessment Principles
- Generally Applied Accountability Principles
- General Accepted Assessment Principles
- a
-
GAAP are a collection of accounting rules and standard for financial reports.