Optional steps in the accounting cycle are— i. Work Sheet ii. Trial Balance iii.Reversing Entries Which one is correct?

1.Which is the permanent step of accounting?

2.What is the full form of b/d?

3.How much money will be included in the financial statements for the value of closing stock?

4.To make accounting information relevant, it must have— i. Predictive value ii. Feedback value iii.Timeliness Which one is correct?

5.Which account is NOT maintained in the Single Entry System?

6.Which one is a Revenue Expenditure?

7.What is the amount of Gross Profit?

8.If the adjusting entry for outstanding expenses is not given, what will be the effect on the accounts? i. Profit will be overstated (shown higher) ii. Expenses will be understated (shown lower) iii. Profit will be understated (shown lower) Which one is correct?

9.According to which principle is the Bank Reconciliation Statement prepared?

10.Which one is a non-cash transaction of a business?

11.What will be the bank balance as per Cash Book for Jamuna Traders?

12.Which of the following is included in the Trial Balance? i. Opening Bank Balance ii. Opening Stationery iii.Opening Stock Which one is correct?