Financial State...

These are expenses which have been paid in current year and benefit of it will be available in next accounting year

Any expenditure incurred in order to reduce the operating expenses is ________.

Packaging material will be

which branch of accounting helps to ascertain profit and loss for the year and also shows the financial position?

_____  is prepared to ascertain gross profit and net profit / loss during an accounting period.

Goods destroyed by fire should be credited to:

Which of the following are an example of Revenue Expenditure

(a) Preliminary expenses for floating a company
(b) Renewal expenses/fee of patent. 
(c) Depreciation on fixed assets. 
(d) Repair of machinery normal or due to negligence of operator
(e) Expenses for obtaining a license.

Options are as follows

Expenditure incurred on research is an example of _______.

Types of account shown in the balance sheet are

Drawings account is a: