41. Cash discount is provided on _______________?

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

42. Goods return to supplier are known as:__________?

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

43. The excess of current assets over current liabilities is called:

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

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

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

45. Sales return is also known as____________?

A. Return received
B. Return Payed
C. Return inward
D. Return outward

46. reduction in price is called:

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

47. Cash brought by the owner to start business is called__________?

A. Capital
B. Loan
C. Drawing
D. None of these

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

A. Discount
B. Cash discount
C. Allowance
D. Trading discount

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

A. Discount
B. Voucher
C. Allowance
D. Price

50. Building and furniture are called ____________?

A. Current asset
B. Fictitious asset
C. Tangible asset
D. Fixed assets

NOTE
IF YOU THINK ANY OF THE MCQ ABOVE IS WRONG.
PLEASE COMMENT WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION IN COMMENT BOX.
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