What do you understand by closing stock?

3

(a)

What is outstanding expenses ? What is its adjusting entries ?

3

(a)

Define accrued income. What is its adjusting entry ?

3

(a)

How will you treat provision for bad and doubtful debts in final accounts?

3

(a)

How will you treat provision for discount on creditors?

3

(a)

How will you treat interest on capital in final accounts

3

(a)

What is abnormal loss of goods ?

3

(a)

How will you treat "Goods distributed as free samples" in final accounts?

3

(a)

How will you treat goods used in business for making an asset?

3

(a)

What is the treatment of deferred revenue expenditure?

3

(a)

Why is it necessary to record the adjusting entries in the preparation of final accounts?

3

(a)

What is meant by closing stock? Show its treatment in final accounts ?

3

(a)

State the meaning of :
(i) Outstanding expenses,
(ii) Prepaid expenses,
(iii) Income received in advance,
(iv) Accrued income.

3

(a)

Why is it necessary to create a provision for doubtful debts at the time of preparation of final accounts?

3

(a)

What is meant by provision for discount on debtors?

3

(a)