Cost of goods sold plus selling expenses equals
A) Cost of production
B) Gross profit
C) Sales
D) Cost of sales
Correct Answer:
Verified
Q33: Sales return account is a _ account
A)Personal
B)Nominal
C)Real
D)Current
Q34: Debit note is prepared in connection with
A)Sales
Q35: Goods sold on credit will be entered
Q36: Cash purchase of fixed asset is entered
Q37: Normally value of closing stock _ in
Q39: Trading account is a _ account
A)Personal
B)Real
C)Nominal
D)Expenses
Q40: 1/6 profit on sales means _ on
Q41: In sole trader balance sheet asset are
Q42: _ is an expenditure which does not
Q43: Asset which reduce is value, on use,
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