Sales is equal to
A) Net income + expenses + cost of goods sold
B) Gross profit + net income + expenses
C) Gross profit + cost of goods sold + direct expenses
D) Net income + direct expenses
Correct Answer:
Verified
Q11: The closing stock will appear in trial
Q12: Outstanding salary is shown on
A)Balance sheet
B)Trading account
C)Suspense
Q13: If closing stock appear on the trial
Q14: Discount on purchase will be
A)Debited to profit
Q15: Resources which are invested in permanent asset
Q17: The premium paid on the life policy
Q18: Expenses which have become due during the
Q19: Balance sheet is a _
A)Ledger
B)Account
C)Statement
D)Subsidiary book
Q20: Income tax paid for the proprietor from
Q21: In the balance sheet of sole trader
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents