1. 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

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

3. Prepaid expenses are also called:

4. The object of non – trading concerns-

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

6. Adjusting Entries?

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

8. Receipt and payment account is a summary of-

9. Accrued income is :

10. Charity of goods is-

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

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

13. Prepaid expenses are shown in-

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

15. Outstanding Expenses are related to-

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

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

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

19. Income earned but not received is shown in:

20. Closing stock is shown in Financial Statements at: