Sales are equal to
A) Cost of goods sold plus profit
B) cost of goods sold minus gross profit
C) gross profit minus cost of goods sold
D) none of these
Correct Answer:
Verified
Q5: rights/ Duties of partners are governed by_
A)article
Q6: The proceeds of assets not specifically pledged
Q7: Out Of The following, Direct Expense Is
A)Salaries
B)carriage
Q8: Goodwill is a
A)Fixed asset
B)current asset
C)intangible asset
D)fictitious asset
Q9: Income received in advance is
A)An income
B)a liability
C)an
Q11: Interest on drawings is
A)An expenditure for the
Q12: Which of the following is a current
Q13: In the case of net worth method
Q14: Capital at the beginning of the year
Q15: The amount of opening stock can be
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