Lessons
MCQs
Evaluate your learning progress by attempting the MCQs and gain valuable insights into your strengths and areas for improvement. Let’s start evaluating what you are learned so far.Practical Questions
In this section, you will find practical questions with detailed solutions for each topic. These Questions will be very beneficial to prepare for your exams.
Three Column Cash Book – Definition, Explanation, Format and Examples
Three column cash book is a book in which three money columns are available on both debit and credit sides such as discount, cash, and bank.
Profit and Loss Account
The net result of any business is to be found after the gross profit or gross loss of the trading account which is obtained from the profit and loss account.
What is Trading Account
A trading account is an account that gives the result of buying and selling of any individual or company, how much it bought and sold in a particular period and how much profit it made.
Double Column Cash Book
In the double column cash book, an additional column of discounts on both sides is added with the cash column. This type of cash book is known as a cash book with a discount and cash column.
Direct vs Indirect Materials
Direct materials are materials that are directly applied to manufacturing a product. While direct material costs are actually incurred on manufacturing a product. It is also called raw material.