We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) Accounting for Managers QUESTION 1. Which book is known as total of debit and credit Balance sheet Trial balance Journal Ledger QUESTION 2. What is the equation of gross profit Opening stock +Purchase +Direct expense Closing stock Sales - Cost of goods sold Sales returns Cost of goods sold Sales + Cost of goods sold QUESTION 3. Trading account is ________ Statement Positional a/c Capital a/c Account QUESTION 4. The liability of members if company is limited by guarantee Unpaid value of shares Guarantee amount Unlimited liability None of the above QUESTION 5. For what use are preparing profit and loss a/c To find out net profit or net loss To find out gross profit or gross loss To know closing stock To determine the sales QUESTION 6. Balance sheet show __________ and ____________ of fund Incomes and losses Sources and applications Debit and Credit Asset and liability QUESTION 7. Outstanding expenses are those expenses which have become ________ during the accounting year Payable Payed Received Receivable QUESTION 8. Balance sheet is known as ____________ statement Positional Expense Income Expenditure QUESTION 9. Which of these is accounting equation? Liability = Asset + Capital Asset = Liability Capital Capital = Asset + Liability Asset = Liability +Capital QUESTION 10. Property of the company belongs to Company Shareholders Members Promoters We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only) QUESTION 11. Trading and profit and loss account is known as __________statement Income Expense Position Revenue QUESTION 12. Maximum no .of members in case of public company is 0 unlimited 50 100 QUESTION 13. Principal books of accounting is known as _____________ Journal Profit and loss Ledger Balance sheet QUESTION 14. Why use prepare trial balance To check arithmetical accuracy of a/c To know the financial position To know the gross profit To know the capital of the firm QUESTION 15. Maximum no. of members in case of private company is 50 100 150 200 QUESTION 16. The liability of members if company is limited by shares Unpaid value of shares Guarantee amount Unlimited liability None of the above QUESTION 17. Minimum number of members in case of public company 1 2 5 7 QUESTION 18. Debit aspect is known as____________and Credit aspect is known as_________________ Receiving and giving Liability and asset Expense and Gains Income and Expenses QUESTION 19. Minimum number of members in case of private company is 1 2 3 4 QUESTION 20. Which of the following assets does not depreciate? Machinery and Equipment Patents Land Furniture We Also Provide SYNOPSIS AND PROJECT. Contact www.kimsharma.co.in for best and lowest cost solution or Email: amitymbaassignment@gmail.com Call: +91 82907-72200 (Call/WhatsApp) or +91 88003-52777 (WhatsApp Only)