Tag: introduction to final accounts
Questions Related to introduction to final accounts
Manufacturing a/c is prepared by the enterprise engaged in________.
To ascertain profit and loss on consignment, ___________ is prepared.
Which of the following statement is false with regard to final accounts of the company?
Manufacturing account is prepared to___________.
Match List I with List II and select the correct answer using the codes given below:
List I | List II |
---|---|
(Name of the Account/ Statement) | (Items to be shown) |
A. Trading A/c | I. Assets and liabilities |
B. Profit and Loss A/c | II. Indirect expenses like salaries, rent rates and taxes, interest etc. |
C. Balance Sheet | III. Direct expenses like wages, dock dues, duties, freight etc. |
'Final Accounts' of a manufacturing company generally include the following types of documents:
1. Balance Sheet
2. Manufacturing Account
3. Profit and Loss Account
4. Trading Account
5. Profit and Loss Appropriation Account
The correct sequence in which these documents are prepared is________.
Match List I (Items) with List II (Recorded in) and select the correct answer using the codes given below the lists:
List I | List II |
---|---|
A. Wrapping material | 1. Trading account |
B. Wages and salaries | 2. Profit and loss acount |
C. Prepaid expenses | 3. Balance sheet |
D. Opening stock |
The correct sequence in preparation of periodical financial statement would be.
$1$. Preparation of balance sheet
$2$. Preparation of cash flow statement
$3$. Preparation of trial balance
$4$. Preparation of Profit & Loss A/c
Select the correct answer from the options given.
Which of these items will appear in a Manufacturing A/c?
Which of the following would be an entry in the statement of changes in equity?