Which of the following accounts, balance will be shown on debit side of Trial Balance
1.Journal is a book of _______ entries
A)Final
B)Original
C)Secondary
D)Generic
2. Expenditure incurred annually on renewal of patent are known as:
A)Capital Expenditure
B)Financial Expenditure
C)Operating Expenditure
D)None of the Above
3.Which of the following account will be credited, when the goods are purchased on cash? A) Stock account
B) Cash account C) Supplier account
D) Work in process account
4.If the cost of sales is $60,000, sales are $95,000 and operating expenses are $20,000 during the year, what would be the value of Gross Profit?
A)$15,000
B)$35,000
C)$ 55,000
D)$60,000
5. Which of the following accounts, balance will be shown on debit side of Trial Balance? (It is assumed that all account balances are shown on normal balance).
A) Capital account
B)Sundry creditors account
C)Accounts payable account
D)Cash account
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