In support of business transaction, any written evidence is called ___________?
A. Discount
B. Voucher
C. Allowance
D. Price
Accounting MCQs / Q&A
The concession received on the price of defective goods is called:
The concession received on the price of defective goods is called:
A. Discount
B. Cash discount
C. Allowance
D. Trading discount
Cash brought by the owner to start business is called__________?
Cash brought by the owner to start business is called__________?
A. Capital
B. Loan
C. Drawing
D. None of these
reduction in price is called:
reduction in price is called:
A. Paid price
B. Invoice price
C. Book price
D. Discount
Sales return is also known as____________?
Sales return is also known as____________?
A. Return received
B. Return Payed
C. Return inward
D. Return outward
Return inwards refer to the goods returned to an organization by its customers. They are goods which were sold, but usually, because of being unsatisfactory, were returned back by the customers. They are also called the Sales returns.
The excess of current assets over current liabilities is called:
The excess of current assets over current liabilities is called:
A. Working Capital
B. Circulating capital
C. Fixed capital
D. Trading capital
Goods return to supplier are known as:__________?
Goods return to supplier are known as:__________?
A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
Cash discount is provided on _______________?
Cash discount is provided on _______________?
A. Purchases
B. Prompt payment
C. Sales
D. Sales return
The amount invested by the proprietor to start the business is called:
The amount invested by the proprietor to start the business is called:
A. Capital
B. Business
C. Drawings
D. All of them
Obligation of the Business are known as___________?
Obligation of the Business are known as___________?
A. Liabilities
B. Revenues
C. Expenses
D. Assets