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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Book Back 1 Mark Questions with Solution Part - I Question Bank Software Jun-08 , 2021

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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Book Back 1 Mark Questions with Solution Part - I

11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Book Back 1 Mark Questions with Solution Part - I

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5

    Part I

    5 x 1 = 5

  1. Balance sheet is ______.

    (a)

    An account

    (b)

    A statement

    (c)

    Neither a statement nor an account

    (d)

    None of the above

  2. Carriage inwards will be shown _______.

    (a)

    In the trading account

    (b)

    In the profit and loss account

    (c)

    On the liabilities side

    (d)

    On the assets side

  3. Balance sheet shows the ________ of the business.

    (a)

    Profitability

    (b)

    Financial position

    (c)

    Sales

    (d)

    Purchases

  4. Salaries appearing in the trial balance is shown on the _______.

    (a)

    Debit side of trading account

    (b)

    Debit side of profit and loss account

    (c)

    Liabilities side of the balance sheet

    (d)

    Assets side of the balance sheet

  5. Goodwill is classified as _______.

    (a)

    A current asset

    (b)

    A liquid asset

    (c)

    A tangible asset

    (d)

    An intangible asset

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