Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 1

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46. Sales – Gross Profit = ________

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47. Which of the following is a Real A/c?

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48. Valuation of stock in accounting follows the principle of cost price or ____ whichever is lower.

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49. Which of the following is not a nominal Account?

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50. Mr. X is a dealer in electronic goods (refrigerator, washing machine, air conditioners, televisions, etc.) He purchased two air conditioners and installed in his showroom. In the books of X, the cost two air conditioners will be debited to

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