All the proceeds which are received by the business as a result of the sale of goods is called _________________?
(A) Net income
(B) Gross income
(C) Net revenue
(D) Total sales
The original record of a business transaction is recorded in this book_____________?
(A) Work book
(B) Journal
(C) Ledger
(D) Account book
What is a secondary book of accounts, the information of which is obtained from the journal is called ?
(A) Balanced sheet
(B) Ledger
(C) Worksheet
(D) Trial balance
What is used to record historical financial transactions ?
(A) Bookkeeping system
(B) Ledger system
(C) Balance check
(D) General journal system
What is the change in cost per unit variable change called ?
(A) Variable cost
(B) Incremental cost
(C) Fixed cost
(D) Supplemental cost
The true value of interest rate computed by equations for compound interest for a 1 year period is known as __________________?
(A) Expected return
(B) Nominal interest
(C) Effective interest
(D) Economic return
Capitalized cost of any structure or property is computed by which formula ?
(A) First cost + interest of first cost
(B) Annual cost – interest of first cost
(C) First cost + cost of perpetual maintenance
(D) First cost + salvage value
As applied to capitalized asset, the distribution of the initial cost by a periodic changes to operation as in depreciation or the reduction of a debt by either periodic or irregular prearranged programs is called ___________________?
(A) Annuity
(B) Amortization
(C) Capital recovery
(D) Annuity factor
The flow back of profit plus depreciation form a given project is called ___________________?
(A) Capital recovery
(B) Cash flow
(C) Economic return
(D) Earning value
What refers to the saving which takes place because goods are not available for consumption rather than consumer really want to save ?
(A) Compulsory saving
(B) Consumer saving
(C) Forced saving
(D) All of the above