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

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. Prepaid expenses are also called:

5. Adjusting Entries?

6. Closing stock is shown in Financial Statements at:

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

8. Receipt and payment account is a summary of-

9. Income earned but not received is shown in:

10. Charity of goods is-

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

12. Prepaid expenses are shown in-

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

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

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

16. Outstanding Expenses are related to-

17. The object of non – trading concerns-

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

19. Accrued income is :

20. 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