Question

Fill in the blanksi. Closing stock is shown on the ................ side of Balance sheet.ii. Outstanding Expenses are shown on the .............. side of BalanceSheet.iii. Prepaid expenses are shown on the ................ side of Balance sheet.iv. Depreciation is shown on the................. side of profit and loss A/c.v. Closing stock is shown on the asset side of...............vi. The decrease in the value of fixed asset due to their use is called..........vii. Adjustments are made to know the correct.................of a business.viii. Outstanding wages shown on the................. of the ...............ix. Outstanding office Rent will be shown on the................sideof...........and ................ side of Balance sheet.x. Profit and Loss A/c is prepared to know ..................of an accountingyear.

Answer 1

Answer:

i- asset

ii-liabilty

iii- asset

iv- debit

v-balance sheet