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