911. Promise to pay a certain amount is called
A. Account Payable
B. Notes Payable
C. Amount Payable
D. Discount Payable

912. Cash invested by the owner is called
A. Asset
B. Liabilities
C. Capital
D. Loan

913. Cash or goods taken away by the proprietor is called
A. Drawings
B. Sales
C. Charity
D. Expense

914. The rights and claims of outsiders/ owner against the asset is called
A. Owner’s Equity
B. Liabilities
C. Equities
D. None of these

915. The things of value possessed by the trader is called
A. Merchandise
B. Assets
C. Stock
D. Purchases

916. The unsold merchandise of business on particular day is called
A. Purchase Return
B. Stock / Inventory
C. Bad Debts
D. Sales Return

917. The discount allowed by the wholesaler to the retailer on the immediate payment of cash
A. Trade Discount
B. Cash Discount
C. Discount Allowed
D. Discount Received

918. Any written evidence in support of business transaction is called
A. Cash memo
B. Invoice
C. Voucher
D. None of these

919. Assets, which have physical existence, are called
A. Tangible Assets
B. Intangible Assets
C. Quick Assets
D. Current Assets

920. A document given by the seller to buyer for credit sales is called
A. Cash memo
B. Voucher
C. Invoice
D. None of these

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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