Final Accounts Of Sole Proprietorship — Important Questions
Telangana Open School (TOSS) · Class 12 · Accountancy
48 important questions from Final Accounts Of Sole Proprietorship for Telangana Open School (TOSS) Class 12 Accountancy, with answers.
Interactive on Super Tutor
Studying Final Accounts Of Sole Proprietorship? Get the full interactive chapter.
Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for important questions and more.
Free trial, no card needed.
Important Questions from Final Accounts Of Sole Proprietorship
Which of the following is a revenue expenditure?
Show answer
Wages paid
Wages are recurring expenses for business operations and are revenue expenditures.
Which financial statement shows the financial position of a business?
Show answer
Balance Sheet
Balance Sheet shows the assets, liabilities, and capital of a business on a particular date.
Closing stock is shown in which of the following?
Show answer
Trading Account,Balance Sheet
Closing stock appears on the credit side of Trading Account and as an asset in the Balance Sheet.
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.
+44 more questions on Final Accounts Of Sole Proprietorship (Telangana Open School (TOSS) Class 12 Accountancy)
Practise AllFrequently Asked Questions
What are the important topics in Final Accounts Of Sole Proprietorship for Telangana Open School (TOSS) Class 12 Accountancy?
How many important questions are there in Final Accounts Of Sole Proprietorship?
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Final Accounts Of Sole Proprietorship
Practice Quiz
Test yourself with a quick quiz
Revision Notes
Key points for last-minute revision
Formula Sheet
The chapter's formulas in one place
Chapter Summary
Understand the chapter at a glance
Concept Maps
See how topics connect
Study Plan
Step-by-step plan for this chapter
Flashcards
Quick-fire cards for active recall
Syllabus
What topics to cover
For serious students
Get the full Final Accounts Of Sole Proprietorship chapter — start free.
Quizzes, flashcards, an AI doubt solver and a study plan for Telangana Open School (TOSS) Class 12 Accountancy. Free to start, no card needed.