1411. Payment for the purchase of machinery is termed as :

A. Expense
B. Expenditure *
C. Liability
D. Asset

1412. Gross profit + stock in beginning + purchases + direct expenses- stock at the end = ?

A. Sales *
B. Cross of goods sold
C. Cost of goods available for sale
D. Net purchases

1413. The balance sheet that divides its accounts into sub groups within the major section of the statement is called :

A. The account form of balance sheet
B. The balance sheet in its report form *
C. T.form of balance sheet
D. A classified balance sheet

1414. All expenses connected with the office and its conduct are called :

A. Selling expenses
B. Marketing expenses
C. Administrative expenses *
D. Service expenses

1415. According to the marshalling method under which assets are shown in the order of permanence and liabilities are shown in :

A. Permanency preference method
B. Liquidity preference method
C. Mixed method *
D. None of these

1416. The Marshalling method, under which the assets and liabilities are shown in balance sheet in order of their permanence is called :

A. Permanency preference method *
B. Liquidity preference method
C. Mixed method
D. None of these

1417. The marshalling method, Under which the assets and liabilities are shown in order of their liquidity, is called :

A. Permanency preference method
B. Liquidity preference method *
C. Mixed method
D. None of these

1418. Permanency preference method is adopted by :

A. Sole proprietorship
B. Partnership
C. Banks
D. Joint stock Companies *

1419. The liquidity preference method , mostly adopted by :

A. Sole proprietorship and partnership *
B. Joint stock companies
C. Banks
D. Insurance companies

1420. The mixed method is adopted by :

A. Sole proprietorship
B. Partnership
C. Joint stock companies
D. Banks and Insurance companies