1. Accrued income is :

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

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

4. The object of non – trading concerns-

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

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

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

8. 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

9. Prepaid expenses are also called:

10. Outstanding Expenses are related to-

11. Adjusting Entries?

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

13. Charity of goods is-

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

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

16. Closing stock is shown in Financial Statements at:

17. Prepaid expenses are shown in-

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

19. Income earned but not received is shown in:

20. Receipt and payment account is a summary of-