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Diksha Sharma
25 May 2020 05:31 PM study24x7 study24x7

Net profit is computed in the

A

Profit and loss account

B

Balance sheet

C

Trial balance

D

Trading account

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Diksha Sharma
25 May 2020 05:28 PM study24x7 study24x7

Gross profit is

A

Cost of goods sold + Opening stock

B

Excess of sales over cost of goods sold

C

Sales fewer Purchases

D

Net profit fewer expenses of the period

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Diksha Sharma
25 May 2020 05:26 PM study24x7 study24x7

The debts which are to be repaid within a short period (a year or less) are referred to as

A

Current Liabilities

B

Fixed liabilities

C

Contingent liabilities

D

All of the above

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Diksha Sharma
25 May 2020 05:24 PM study24x7 study24x7

The long term assets that have no physical existence but, possess a value is known as,

A

Current assets

B

Fixed assets

C

 Intangible assets

D

Investments

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Diksha Sharma
25 May 2020 05:21 PM study24x7 study24x7

Accounting furnishes data on

A

 Income and cost for the managers

B

Financial conditions of the institutions

C

Company’s tax liability for a particular year

D

All of the above

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Diksha Sharma
20 May 2020 12:04 PM study24x7 study24x7

Financial management is mainly concerned with

A

All aspects of acquiring and utilizing financial resources for firms activities

B

Arrangement of funds

C

Efficient management of every business

D

Profit maximization

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