Accounting Quiz 02

The excess of current assets over current liabilities is called:

Fixed capital

Working Capital

Circulating capital

Trading capital

Correct! Wrong!

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

Cash discount

Allowance

Trading discount

Discount

Correct! Wrong!

Building and furniture are called ____________?

Fictitious asset

Tangible asset

Current asset

Fixed assets

Correct! Wrong!

Goods return to customer are known as:

Sales return

Merchandise return

Purchase return

Return inwards

Correct! Wrong!

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

Return outwards

Purchases

Sales

Return inward

Correct! Wrong!

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

Voucher

Allowance

Price

Discount

Correct! Wrong!

Reduction in price is called:

Paid price

Book price

Invoice price

Discount

Correct! Wrong!

Sales return is also known as____________?

Return outward

Return inward

Return Payed

Return received

Correct! Wrong!

Cash brought by the owner to start business is called__________?

Loan

Capital

None of these

Drawing

Correct! Wrong!

Cash discount is provided on _______________?

Sales

Purchases

Sales

Prompt payment

Correct! Wrong!

Accounting Quiz 02

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Accounting Quiz 02

The excess of current assets over current liabilities is called:

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

Building and furniture are called ____________?

Goods return to customer are known as:

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

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

Reduction in price is called:

Sales return is also known as____________?

Cash brought by the owner to start business is called__________?

Cash discount is provided on _______________?

About the author

Muhammad Arslan

The excess of current assets over current liabilities is called:

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

Building and furniture are called ____________?

Goods return to customer are known as:

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

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

Reduction in price is called:

Sales return is also known as____________?

Cash brought by the owner to start business is called__________?

Cash discount is provided on _______________?

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About the author

Muhammad Arslan