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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Creative 2 Mark Questions with Solution Part - I updated Creative Questions

11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Creative 2 Mark Questions with Solution Part - I

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    5 x 2 = 10

  1. Definition of trading account.

  2. What do you mean by direct expenses?

  3. Prepare a trading account of Mr. Velu from the following figures:

    Particulars Rs. Particulars Rs.
    Opening Stock 500 Sales 3,600
    Purchases 2,500 Closing stock 300

  4. Prepare a trading account of Mrs. Divya for the year ended 31st December 2017.

    Particulars Rs. Particulars Rs.
    Opening Stock 5,700 Sales 2,62,000
    Purchases 1,58,000 Sales returns 600
    Purchases returns 900 Closing stock 8,600

  5. If 'adjusted purchases' and 'closing stock' are given in the trial balance, will you transfer 'closing stock' to trading account? Give reason.

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