Practice - Final Accounts without Adjustments
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Practice Questions
Test your understanding with targeted questions
What is the purpose of a Trading Account?
💡 Hint: Think about what is accounted for in sales.
What comes after calculating gross profit?
💡 Hint: Consider the flow of financial statements.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What does the Trading Account show?
💡 Hint: Focus on the type of profit being represented.
True or False: The Balance Sheet shows the company's cash position only.
💡 Hint: Consider the broader range of financial statements.
1 more question available
Challenge Problems
Push your limits with advanced challenges
Given the following data: Sales = ₹200,000; Direct Costs = ₹120,000; Indirect Expenses = ₹50,000; Calculate the gross and net profit.
💡 Hint: Use Trading to find gross first and then apply indirect expenses.
If a company's current assets are ₹50,000 and liabilities are ₹20,000, what is the equity?
💡 Hint: Remember the accounting equation: Assets = Liabilities + Equity.
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