Under which inventory system is the quantity of closing stock determined at the \end{of}the accounting period?

1.In a partnership business, through which account are omitted matters and errors adjusted?

2.Which of the following is an example of cash flow from financing activities?

3.Which of the following is an example of cash flow from investing activities?

4.What is the amount of gross profit?

5.Which of the following is not a liability?

6.Ratio analysis is used to examine— i. Efficiency ii. Solvency iii. Profit-earning capacity Which one is correct?

7.Ratio is—

8.What is the ideal quick ratio?

9.The objectives of cost accounting are— i. Determination ii. Recording iii. Control Which one is correct?

10.Which of the following is a factory overhead?

11.According to factory rules, what is the standard time?

12.Effective instruments for inventory control are— i. Bin card ii. Stores ledger iii. Perpetual inventory record Which one is correct?