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.Management Sciences
Category: Principles of Accounting
The excess of current assets over current liabilities is called:
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A. Working Capital
B. Circulating capital
C. Fixed capital
D. Trading capital
Goods Return by the customer are termed as :
A. Purchase return
B. Customer return
C. Sales return
D. Inventory return
When owner withdraw cash for its private use, it is called ___________?
A. Profit
B. Income
C. Expense
D. Drawing
When goods, in which business deals are sold, it is called___________?
A. Purchases
B. Return inward
C. Sales
D. Return outwards
Goods return to supplier are known as:__________?
A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
In support of business transaction, any written evidence is called ___________?
A. Discount
B. Voucher
C. Allowance
D. Price
Income earned but not received is called ____________?
A. Fictitious assets
B. Quick asset
C. Real asset
D. Outstanding asset
Sales return is also known as____________?
A. Return received
B. Return Payed
C. Return inward
D. Return outward
(more…)
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