1. Prepaid expenses are shown in-

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

3. Charity of goods is-

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

5. The object of non – trading concerns-

6. Closing stock is shown in Financial Statements at:

7. Accrued income is :

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. Prepaid expenses are also called:

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

12. 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

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

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

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

16. Income earned but not received is shown in:

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

18. Outstanding Expenses are related to-

19. Adjusting Entries?

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