The purpose of final accounts is to ascertain. …

Related MCQs

• Under stock and debtors system, which of the following accounts is prepared with a view to ascertain Gross Profit of the Branch?
• As per ………..it is the statutory obligation of companies to prepare their final accounts.
• While preparing the final a accounts of non trading concerns where do you show receipts and payments of special nature
• The final accounts , when adjustment entry is passed ,it affects the minimum ________
• Expenses which have become due during the accounting period for which the final accounts have been prepared but have not yet been paid is called
• Final accounts are prepared…….
• Which of the following branches, taking into consideration the scope of authority and responsibility, prepares its own independent final accounts?
• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• P and Q are partners sharing profit and loss in the proportion 2:1 in the Joint Venture. P keeps accounts of joint venture. Q gave Rs. 5,000 to P for joint venture business. P prepared accounts and showed profit of Rs. 2,250. P settled Q’s account. In the books of Q, Rs. _______ profit is credited.
• Creditors account is prepared to ascertain