All the expenses incurred on the purchase of goods are ____________

(a)

Direct expenses

(b)

Indirect expenses

(c)

Selling expenses

(d)

Administration expenses

Trading account is a __________ account.

(a)

Personal

(b)

Real

(c)

Nominal

(d)

None of these

____________ is a tax levied by the local authority when the purchased goods enter the municipal limits.

(a)

Wages

(b)

Dock charges

(c)

Octroi

(d)

Royalty

___________ is the amount paid to the owner of a mine or a patent for using owner's right.

(a)

Octroi

(b)

Dock charges

(c)

Royalty

(d)

Wages

The goods remaining unsold at the end of the accounting period are known as ___________

(a)

Opening stock

(b)

Closing stock

(c)

Average stock

(d)

None of these