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Important Questions

Final Accounts Of Sole Proprietorship

Telangana Open School (TOSS) · Class 12 · Accountancy

Most important questions from Final Accounts Of Sole Proprietorship for Telangana Open School (TOSS) Class 12 Accountancy board exam 2026. MCQs, short answer, and long answer questions with marks.

48 questions29 flashcards5 concepts

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48 Questions·
multiple choicemultiple correcttrue false

Sample Questions

1multiple choice
1 marks

Which of the following is a revenue expenditure?

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Wages paid

Wages are recurring expenses for business operations and are revenue expenditures.

2multiple choice
1 marks

Which financial statement shows the financial position of a business?

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Balance Sheet

Balance Sheet shows the assets, liabilities, and capital of a business on a particular date.

3multiple correct
1 marks

Closing stock is shown in which of the following?

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Trading Account,Balance Sheet

Closing stock appears on the credit side of Trading Account and as an asset in the Balance Sheet.

4true false
1 marks

Outstanding expenses are shown on the liability side of the Balance Sheet.

Show answer

True

Outstanding expenses are liabilities as they are amounts owed but not yet paid.

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Frequently Asked Questions

What are the important topics in Final Accounts Of Sole Proprietorship for Telangana Open School (TOSS) Class 12 Accountancy?
Final Accounts Of Sole Proprietorship covers several key topics that are frequently asked in Telangana Open School (TOSS) Class 12 board exams. Focus on the core concepts listed on this page and practise related questions to build confidence.
How to score full marks in Final Accounts Of Sole Proprietorship — Telangana Open School (TOSS) Class 12 Accountancy?
Understand the core concepts first, then work through the 48 practice questions available for this chapter. Revise formulas and definitions regularly, and use flashcards for quick recall before the exam.
How many important questions are there in Final Accounts Of Sole Proprietorship?
There are 48 practice questions available for Final Accounts Of Sole Proprietorship. These cover multiple question types including MCQs, short answer, and long answer questions.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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