1. Income earned but not received is shown in:

2. If the rent received in advance Rs. 2,000. The adjustment entry will be

3. Which of the following is recorded in income & expenditure account –

4. Closing stock is shown in Financial Statements at:

5. The object of non – trading concerns-

6. If a person fails to pay his debt, such amount is considered as-

7. Prepaid expenses are also called:

8. Such persons who earn remuneration against their services are called –

9. Which of the following is true for every adjusting entry?

10. Outstanding Expenses are related to-

11. Income tax in case of sole trader is treated as ,

12. Prepaid Insurance existing in the Trial Balance is shown in the Balance Sheet in the assets side because of

13. Accrued income is :

14. Which of the following is not an item of income of Non – trading concern –

15. Adjusting Entries?

16. Receipt and payment account is a summary of-

17. Prepaid expenses are shown in-

18. If the insurance premium paid Rs. 1,000 and prepaid insurance Rs. 300. The amount of insurance premium shown in profit and loss account will be

19. Charity of goods is-

20. Which of the following is recorded in income & expenditure account –