(i) c
(ii) c
(iii) c
(iv) a
(v) c
(vi) b
(vii) d
(viii) c
(ix) d (doubt)
(x) d
(xi) d
(xii) c
(xiii) a
(xiv) c
(xv) d
(xvi) c (but question statement is deficient)
(xvii) b (doubt)
(xviii) c (ambigous statement)
(xix) a
(xx) b (It is better to select option d: none of these. Becuase deficit is not used in standard accounting methods. Examiner wants to ask with respect to Non-trading business concerns that is why b is the answer as per his intentions. Otherwise Excess of expenditure over income is best terminolgy in non-trading concerns).




Regards

__________________
"Tumhary nafs ki qeemat Janat hay isy Janat say kam qeemat pey na bechna."
"Jiyo to istarh ky log tum sy milny ko tarsy; maro to istrah k log tumharee mot par royain"