When a person purchasing goods on credit he becomes a_________in the books of the seller?
When a person purchasing goods on credit he becomes a_________in the books of the seller?
A. Debtor
B. Creditor
C. Defaulter
D. Offender
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The Balance Sheet gives information regarding the____________?
The Balance Sheet gives information regarding the____________?A. Results of operations for a particular period
B. Financial position during a particular period
C. Profit earning capacity for a particular period
D. Financial position as on a particular dateA journal entry in which two or more account is debited or credited is referred as____________?
A journal entry in which two or more account is debited or credited is referred as____________?
A. Journal entry
B. Multi entry
C. Additional entry
D. Compound entryIdentify the asset from the following:
Identify the asset from the following:
A. Cash and cash equivalent
B. Creditors
C. Notes payable
D. Bank loanAssets-Liabilities=____________?
Assets-Liabilities=____________?
A. Cash
B. Equity
C. Net income
D. Net expensesAny donation received for a specific purpose is a_________?
Any donation received for a specific purpose is a_________?
A. Liability
B. Assets
C. Revenue receipts
D. Capital receiptsAn increase in provision for bad debt will____________?
An increase in provision for bad debt will____________?
A. Decrease net income
B. Decrease liabilities
C. Increase net income
D. Increase liabilities