Multiple Choice
Allowance made for prompt payment is called
A) Cash allowance
B) Cash discount
C) Trade discount
D) Discount
Correct Answer:
Verified
Correct Answer:
Verified
Q38: Collection of all accounts us called<br>A)Trial balance<br>B)Journal<br>C)Ledger<br>D)Cash
Q39: Total sales book indicates<br>A)Total credit sales<br>B)Total cash
Q40: Trading account is a _ account<br>A)Personal<br>B)Real<br>C)Nominal<br>D)Expenses
Q41: In income & Expenditure accounts, we record<br>A)Items
Q42: Normally value of closing stock _ in
Q43: Sales return account is a _ account<br>A)Personal<br>B)Nominal<br>C)Real<br>D)Current
Q44: In sole trader balance sheet asset are
Q45: 'Every debit has a corresponding credit' it
Q46: Cash purchase of fixed asset is entered
Q48: Rent prepaid is<br>A)Assets<br>B)Liability<br>C)Income<br>D)Expense