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Principles of accounting Icom Part 1 English Medium Chapter 5 Online Test
| Sr. # | Questions | Answers Choice |
|---|---|---|
| 1 | Interest paid on loan is | Abnormal Loss Financial Expenses Management Expenses Maintenance Expenses |
| 2 | Office rent is a | Financial Expense Abnormal Loss Management Expense Maintenance Expense |
| 3 | Net Profit is transferred to | Trading Account Balance Sheet Capital a/c Trial Balance |
| 4 | Profit & Loss a/c is prepared to ascertain | Gross Profit Net Profit Gross Loss Real Profit |
| 5 | Gross profit is derived from | Trading a/c Profit & Loss a/c Trial Balance Balance Sheet |
