1. Charity of goods is-

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

3. Prepaid expenses are also called:

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

5. The object of non – trading concerns-

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

7. Receipt and payment account is a summary of-

8. Prepaid expenses are shown in-

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

10. Adjusting Entries?

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

12. Accrued income is :

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

14. 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

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

16. Closing stock is shown in Financial Statements at:

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

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

19. Income earned but not received is shown in:

20. Outstanding Expenses are related to-