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. Outstanding Expenses are related to-

3. The object of non – trading concerns-

4. Receipt and payment account is a summary of-

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

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

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

8. Prepaid expenses are also called:

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

10. Charity of goods is-

11. Closing stock is shown in Financial Statements at:

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

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

14. Accrued income is :

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

16. Adjusting Entries?

17. Income earned but not received is shown in:

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

19. Prepaid expenses are shown in-

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