Accounting Quiz 02

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

Return inward

Purchases

Sales

Return outwards

Correct! Wrong!

Sales return is also known as____________?

Return Payed

Return inward

Return received

Return outward

Correct! Wrong!

The excess of current assets over current liabilities is called:

Circulating capital

Trading capital

Fixed capital

Working Capital

Correct! Wrong!

In support of business transaction, any written evidence is called ___________?

Price

Allowance

Discount

Voucher

Correct! Wrong!

Reduction in price is called:

Book price

Discount

Invoice price

Paid price

Correct! Wrong!

Cash brought by the owner to start business is called__________?

Loan

Drawing

Capital

None of these

Correct! Wrong!

Building and furniture are called ____________?

Fixed assets

Tangible asset

Fictitious asset

Current asset

Correct! Wrong!

Cash discount is provided on _______________?

Sales

Purchases

Prompt payment

Sales

Correct! Wrong!

Goods return to customer are known as:

Purchase return

Return inwards

Sales return

Merchandise return

Correct! Wrong!

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

Discount

Allowance

Cash discount

Trading discount

Correct! Wrong!

Accounting Quiz 02

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Accounting Quiz 02

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

Sales return is also known as____________?

The excess of current assets over current liabilities is called:

In support of business transaction, any written evidence is called ___________?

Reduction in price is called:

Cash brought by the owner to start business is called__________?

Building and furniture are called ____________?

Cash discount is provided on _______________?

Goods return to customer are known as:

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

About the author

Muhammad Arslan

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

Sales return is also known as____________?

The excess of current assets over current liabilities is called:

In support of business transaction, any written evidence is called ___________?

Reduction in price is called:

Cash brought by the owner to start business is called__________?

Building and furniture are called ____________?

Cash discount is provided on _______________?

Goods return to customer are known as:

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

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About the author

Muhammad Arslan