1 Which of the expenses are shown in trading account? ed Select one: out of O a. Indirect expenses question O b. Direct expenses 0 c. Opening expenses O d. None of the above ion 2 Financial accounting shows the result of the collective activities of the business. et ered Select one: ed out of True False ag question 3 Return inward appearing in trial balance is deducted from d Select one: out of a. None of the above O b. Sales question c. Purchases d. Return outwards on 4 Which of these best explains fixed assets? red Select one: d out of a. Are bought for resale 9 question b. Are expensive items bought for investments c. Are of long life and are not purchased for resale d. Are items which will not wear out quickly