A. Purchases
B. Prompt payment
C. Sales
D. Sales return
Principles of Accounting
Goods return to supplier are known as:……….?
A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
The excess of current assets over current liabilities is called:
A. Working Capital
B. Circulating capital
C. Fixed capital
D. Trading capital
When goods, in which business deals are sold, it is called………..?
A. Purchases
B. Return inward
C. Sales
D. Return outwards
Sales return is also known as…………?
A. Return received
B. Return Payed
C. Return inward
D. Return outward
reduction in price is called:
A. Paid price
B. Invoice price
C. Book price
D. Discount
Cash brought by the owner to start business is called……….?
A. Capital
B. Loan
C. Drawing
D. None of these
The concession received on the price of defective goods is called:
A. Discount
B. Cash discount
C. Allowance
D. Trading discount
In support of business transaction, any written evidence is called ………..?
A. Discount
B. Voucher
C. Allowance
D. Price
Building and furniture are called …………?
A. Current asset
B. Fictitious asset
C. Tangible asset
D. Fixed assets