Sales return is also known as____________?
(A) Return received
(B) Return Payed
(C) Return inward
(D) Return outward(more…)
When goods, in which business deals are sold, it is called___________?
(A) Purchases
(B) Return inward
(C) Sales
(D) Return outwards
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:__________?
(A) Merchandise return
(B) Purchase return
(C) Return inwards
(D) Sales return
Cash discount is provided on _______________?
(A) Purchases
(B) Prompt payment
(C) Sales
(D) Sales return
A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?
(A) Error of omission
(B) Error of commission
(C) Compensating error
(D) Error of principle
Debts which are payable in the course of a month are called _____________?
(A) External liabilities
(B) Fixed liabilities
(C) Current liabilities
(D) Liquid Liabilities
Income earned but not received is called ____________?
(A) Fictitious assets
(B) Quick asset
(C) Real asset
(D) Outstanding asset