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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Creative 2 Mark Questions with Solution Part - II updated Creative Questions Question Bank Software May-13 , 2022

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11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Creative 2 Mark Questions with Solution Part - II updated Creative Questions

11th Standard English Medium Accountancy Subject Final Accounts of Sole Proprietors - I Creative 2 Mark Questions with Solution Part - II

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    5 x 2 = 10

  1. What is Wages?

  2. What do you mean by closing stock?

  3. Definition of profit and loss account.

  4. Is it true that Profit and loss account shows the financial position of the enterprise?

  5. Is it true that profit and loss account is a point statement whereas a balance sheet is a period statement?

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