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Final Accounts – Practice Quiz

Test your understanding of the entire Final Accounts cycle.

Quiz Questions

Test Your Knowledge

Question 1 of 6

1. Gross Profit is calculated using which accounts?

Sales & Purchases

Sales, Closing Stock, Opening Stock, Purchases, Direct Expenses

Profit & Loss Account

Balance Sheet

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💡 Final Wisdom: "Practice makes perfect – these questions cover the whole journey from trading to the balance sheet. Review any you miss and revisit the relevant lessons."