Accounting Mcqs

Page No. 70

The concession received on the price of defective goods is called:


aDiscount


bCash discount


cAllowance


dTrading discount


View Answer Allowance

Cash brought by the owner to start business is called__________?


aCapital


bLoan


cDrawing


dNone of these


View Answer Capital

reduction in price is called:


aPaid price


bInvoice price


cBook price


dDiscount


View Answer Discount

Sales return is also known as____________?


aReturn received


bReturn Payed


cReturn inward


dReturn outward


View Answer Return inward

When goods, in which business deals are sold, it is called___________?


aPurchases


bReturn inward


cSales


dReturn outwards


View Answer Sales

The excess of current assets over current liabilities is called:


aWorking Capital


bCirculating capital


cFixed capital


d Trading capital


View Answer Working Capital

Goods return to supplier are known as:__________?


aMerchandise return


bPurchase return


cReturn inwards


dSales return


View Answer Purchase return

Cash discount is provided on _______________?


aPurchases


bPrompt payment


cSales


dSales return


View Answer Prompt payment

The amount invested by the proprietor to start the business is called:


aCapital


bBusiness


cDrawings


dAll of them


View Answer Capital

Obligation of the Business are known as___________?


aLiabilities


bRevenues


cExpenses


dAssets


View Answer Revenues

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