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

2. Outstanding Expenses are related to-

3. 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

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

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

6. Prepaid expenses are shown in-

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

8. Receipt and payment account is a summary of-

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

10. Accrued income is :

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

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

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

14. Closing stock is shown in Financial Statements at:

15. Income earned but not received is shown in:

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

17. Adjusting Entries?

18. Prepaid expenses are also called:

19. Charity of goods is-

20. The object of non – trading concerns-