Principles of Accounting

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

A. Purchases B. Return inward C. Sales D. Return outwards

7 years ago

Modern system of book keeping is called______________?

A. Double entry system B. American system C. Single entry system D. Italic system

7 years ago

Double entry means______________?

A. Entry in two sets of books B. Entry at two ends C. Entry at two dates D. Entry for…

7 years ago

Sales return is also known as____________?

A. Return received B. Return Payed C. Return inward D. Return outward (more…)

7 years ago

Goods Return by the customer are termed as :

A. Purchase return B. Customer return C. Sales return D. Inventory return

7 years ago

reduction in price is called:

A. Paid price B. Invoice price C. Book price D. Discount

7 years ago

Debts which are payable in the course of a month are called _____________?

A. External liabilities B. Fixed liabilities C. Current liabilities D. Liquid Liabilities

7 years ago

Income earned but not received is called ____________?

A. Fictitious assets B. Quick asset C. Real asset D. Outstanding asset

7 years ago