Accounting Mcqs

Page No. 70

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


aDiscount

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bCash discount

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cAllowance

✓


dTrading discount

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View Answer Allowance

Cash brought by the owner to start business is called__________?


aCapital

✓


bLoan

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cDrawing

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dNone of these

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View Answer Capital

reduction in price is called:


aPaid price

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bInvoice price

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cBook price

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dDiscount

✓


View Answer Discount

Sales return is also known as____________?


aReturn received

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bReturn Payed

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cReturn inward

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dReturn outward

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View Answer Return inward

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


aPurchases

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bReturn inward

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cSales

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dReturn outwards

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View Answer Sales

The excess of current assets over current liabilities is called:


aWorking Capital

✓


bCirculating capital

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cFixed capital

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d Trading capital

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View Answer Working Capital

Goods return to supplier are known as:__________?


aMerchandise return

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bPurchase return

✓


cReturn inwards

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dSales return

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View Answer Purchase return

Cash discount is provided on _______________?


aPurchases

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bPrompt payment

✓


cSales

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dSales return

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View Answer Prompt payment

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


aCapital

✓


bBusiness

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cDrawings

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dAll of them

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View Answer Capital

Obligation of the Business are known as___________?


aLiabilities

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bRevenues

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cExpenses

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dAssets

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View Answer Revenues

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