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Q. 2 oct Opening balance=200 units @Rs 15 each, 4 Oct:Purchase=500 units @Rs 10 ,5 Oct Sales=600 units.What will be Closing Inventory value (in Rs) as per LIFO Method?

Q. The elements of the accounting equation are

Q. If closing stock is mentioned in trial balance,Where is it shown in Final Accounts?

Q. Trial balance is not a conclusive proof of accuracy due to which errors. I)Error of omission II)Error of Principle III)Error of Commission IV)Compensatory Errors

Q. The respective normal account balances of Sales, Sales Returns , and Discounts allowed are?

Q. In the books of account if a transaction is completely deleted, will it affect the trial balance?

Q. Which is true. I)Fixed installation method is recognised by income tax department. II)The amount of depreciation in WDV method remains same.

Q. Which of the following is not the external user of accounting information?

Q. Where do we show Gas and Fuel in final accounts?

Q. Goods destroyed by fire should be credited to