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Class : 10

Subject : Account

Unit : 6.00 Lesson :Final Accounts

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1.) How is drawing adjusted in balance sheet?

2.) What is meant by outstanding expense?

3.) What is cash in hand?

4.) What type of asset is goodwill?

5.) What is liability?

6.) Mention any three objectives of profit and loss account.

7.) What is trading account?

8.) What do you mean by final accounts ?

9.) In which part of balance of sheet does bank over draft recorded ?

10.) Mention any three advantages of profit and loss accounts.

11.) How is gross profit determined?

12.) What is profit and loss account?

13.) How net profit is determined?

14.) Mention the credit items of trading account.

15.) Mention the debit items of trading account

16.) Mention any three advantages of balance sheet.

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