A. Accountancy
B. Economics
C. Book Keeping
D. Auditing
Principles of Accounting
An Art of reading, classifying & Summarizing of accounts in a systematic way is called……….?
A. Accounting
B. Accountancy
C. Auditing
D. Book Keeping
The maintenance of accounts in a systematic way is called……….?
A. Accounting
B. Reading
C. Book Keeping
D. Auditing
Goods Return by the customer are termed as :
A. Purchase return
B. Customer return
C. Sales return
D. Inventory return
Modern system of book keeping is called…………..?
A. Double entry system
B. American system
C. Single entry system
D. Italic system
The person to whom goods are sold on credit is called………..?
A. Buyer
B. Seller
C. Debtor
D. Creditor
Double entry means…………..?
A. Entry in two sets of books
B. Entry at two ends
C. Entry at two dates
D. Entry for two aspects of the transaction
Discount received is a/an:
A. Asset
B. Expense
C. Liability
D. Revenue
Obligation of the Business are known as………..?
A. Liabilities
B. Revenues
C. Expenses
D. Assets
The amount invested by the proprietor to start the business is called:
A. Capital
B. Business
C. Drawings
D. All of them