Principles of Accounting

Assets having physical existence are called ___________?

A. Current asset B. intangible asset C. Tangible asset D. Liquid asset

7 years ago

Discount received is a/an:

A. Asset B. Expense C. Liability D. Revenue

7 years ago

The assets which have some market value are called ____________?

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

7 years ago

Obligation of the Business are known as___________?

A. Liabilities B. Revenues C. Expenses D. Assets

7 years ago

Cash discount is provided on _______________?

A. Purchases B. Prompt payment C. Sales D. Sales return

7 years ago

Goods return to customer are known as:

A. Merchandise return B. Purchase return C. Return inwards D. Sales return

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The unsold goods are ______________?

A. Equity B. Sale return C. Inventory D. Purchases

7 years ago

The excess of current assets over current liabilities is called:

A. Working Capital B. Circulating capital C. Fixed capital D. Trading capital

7 years ago