Lecturer Commerce Solved Past Paper MCQs Online Test No. 33

Gross loss is debited to:

Gross profit is credited to:

From the business point of view, interest on capital is regarded as:

Interest due but not received is:

Commission received in advance is to consider as:

A prepaid expense is:

The unsold stock at the end of the year represents the:

Wages and salaries are debited to:

The gradual and permanent decrease in the value of an asset from any cause; is know as:

Every business concern ascertains profit or loss of the business at the end of the year through:

Gross profit + Stock in the beginning + purchases+ Direct expenses - Stock at the end=?

Permanency preference method is adopted by:

Rent due but not paid is to be:

From the business point of view, interest on drawings is:

Closing stock is credited to:

Insurance premium paid in advance is:

The mixed method is adopted by:

The credit balance of the income received in advance will be shown on the balance sheet as:

Payment for the purchase is machinery I is termed as:

Expenses paid in advance before they have fallen due are called:

All expenses connected with the office and its conduct are called:

Unpaid salaries are to be consider as:

The outstanding income or accrued income will appears in the balance sheet as:

Income received in advance but not earned is called:

Discount to be received is: