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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are final accounts?
💡 Hint: They summarize business performance.
Question 2
Easy
What is gross profit?
💡 Hint: Think about sales minus costs!
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the purpose of final accounts?
- To summarize financial performance
- To calculate sales
- To maintain inventory
💡 Hint: Think about their overall function in business.
Question 2
True or False: Gross profit is calculated after all expenses have been deducted.
- True
- False
💡 Hint: Remember when gross profit is calculated!
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company has a gross profit of ₹150,000 while its indirect expenses are ₹65,000. Calculate the net profit.
💡 Hint: Use the formula you've learned for net profit.
Question 2
Discuss the importance of final accounts in ensuring compliance with regulations and how it impacts stakeholders.
💡 Hint: Think about both internal and external stakeholders.
Challenge and get performance evaluation