i. ________ is excess of assets over liabilities.  (a) Goodwill  (b) Capital  (c) Investments  (d) Drawings

Select the most appropriate alternatives given below and rewrite the sentence:

i. ________ is excess of assets over liabilities. 

(a) Goodwill 

(b) Capital 

(c) Investments 

(d) Drawings

ii. Discount earned is transferred to credit side of _________ account. 

(a) Current 

(b) Profit and Loss 

(c) Trading 

(d) Capital

iii. ________ is a statement which shows the financial position of business on a specific date. 

(a) Trading Account 

(b) Trial Balance 

(c) Profit and Loss A/c 

(d) Balance Sheet

iv. Outstanding expenses are shown on the _________ side of Balance sheet. 

(a) Assets 

(b) Liability 

(c) Both 

(d) None of these 

v. Interest on Drawing is credited to _______ Account. 

(a) Trading 

(b) Profit and Loss 

(c) Capital 

(d) All