Accounting Quiz 02

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

Purchases

Return inward

Sales

Return outwards

Correct! Wrong!

Goods return to customer are known as:

Sales return

Purchase return

Merchandise return

Return inwards

Correct! Wrong!

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

Discount

Price

Allowance

Voucher

Correct! Wrong!

Reduction in price is called:

Paid price

Book price

Discount

Invoice price

Correct! Wrong!

Building and furniture are called ____________?

Tangible asset

Fictitious asset

Current asset

Fixed assets

Correct! Wrong!

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

Discount

Cash discount

Trading discount

Allowance

Correct! Wrong!

Cash discount is provided on _______________?

Purchases

Prompt payment

Sales

Correct! Wrong!

The excess of current assets over current liabilities is called:

Circulating capital

Working Capital

Fixed capital

Trading capital

Correct! Wrong!

Cash brought by the owner to start business is called__________?

Drawing

Capital

None of these

Loan

Correct! Wrong!

Sales return is also known as____________?

Return received

Return outward

Return Payed

Return inward

Correct! Wrong!

Accounting Quiz 02

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Accounting Quiz 02

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

Goods return to customer are known as:

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

Reduction in price is called:

Building and furniture are called ____________?

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

Cash discount is provided on _______________?

The excess of current assets over current liabilities is called:

Cash brought by the owner to start business is called__________?

Sales return is also known as____________?

About the author

Muhammad Arslan

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

Goods return to customer are known as:

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

Reduction in price is called:

Building and furniture are called ____________?

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

Cash discount is provided on _______________?

The excess of current assets over current liabilities is called:

Cash brought by the owner to start business is called__________?

Sales return is also known as____________?

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About the author

Muhammad Arslan