Question
At the end of the accounting year, all the nominal
accounts of the ledger book are:Solution
At the end of the accounting year, nominal accounts, which include income, expenses, gains, and losses, are closed by transferring their balances to the profit and loss account. This process is essential to determine the net profit or loss for the accounting period. Once these balances are transferred, the nominal accounts are reset to zero and are not carried forward to the next accounting period.
Choose the one which is different from other three alternatives
If 'P' denotes 'multiplied by, 'T' denotes 'subtracted from, 'M' denotes' 'added to' and 'B' denotes 'divided by, then what should be the correct respon...
Select the pair that follows the same pattern as that followed by the two pairs given below. Both pairs follow the same pattern.
MJH−KHF EBZ−...
What should come in place of '?' in the given series?
2Â 21Â 97Â 401Â 1617 ?
The figures given below show the sequence of folding a piece of paper and the method of cutting the folded paper. What will the paper look like when it ...
Which of the following numbers in the Venn Diagram represents urban employees who are uneducated but not poor?
The following question is based on the given words.
PLANÂ Â FOREÂ Â RAMPÂ Â RANGÂ Â SAND
If in each word, the fourth letter is change...
What should come in place of the question mark (?) in the given series based on the English alphabetical order?
NRT, JNP, FJL, BFH, ?
In a certain code language, if BOSS is written 2151919, how will the HIGH be written in the same language?
Three of the following four figure pairs are alike in a certain way and thus form a group. Which is the one that does not belong to that group?
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