Discount allowed is a kind of deduction from_____________?

Related Mcqs:

Which of the following will affect the agreement of a trial balance?

A. Complete omission of a transaction B. Partial omission of a transaction C. Error of principle D. Compensating errors...

An asset posses which of the following?

A. Future economic benefits for the business B. All kind of benefits for the business C. Expenses for the business D. Merits and Demerits for the business...

Find out the value of assets if: Liabilities=$5000 and Capital=$1000

A. $4000 B. $6000 C. $7000 D. $3000...

The first step in accounting process is___________?

A. Recording the transaction B. Identifying the transaction C. Posting the transaction D. Preparing the source documents...

The Balance Sheet gives information regarding the____________?

A. Results of operations for a particular period B. Financial position during a particular period C. Profit earning capacity for a particular period D. Financial position as on a particular date...