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