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