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

11th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5
    5 x 1 = 5
  1. All the expenses incurred on the purchase of goods are ____________

    (a)

    Direct expenses

    (b)

    Indirect expenses

    (c)

    Selling expenses

    (d)

    Administration expenses

  2. Trading account is a __________ account.

    (a)

    Personal

    (b)

    Real

    (c)

    Nominal

    (d)

    None of these

  3. ____________ is a tax levied by the local authority when the purchased goods enter the municipal limits.

    (a)

    Wages

    (b)

    Dock charges

    (c)

    Octroi

    (d)

    Royalty

  4. ___________ is the amount paid to the owner of a mine or a patent for using owner's right.

    (a)

    Octroi

    (b)

    Dock charges

    (c)

    Royalty

    (d)

    Wages

  5. The goods remaining unsold at the end of the accounting period are known as ___________

    (a)

    Opening stock

    (b)

    Closing stock

    (c)

    Average stock

    (d)

    None of these

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