Q16.Is given to businessman when clear his payment before certain period ?
(1) Special Discount
(2) Cash Discount
(3) None of these
(4) Trade Discount
Answer
Cash Discount
Related Questions on Theory Base of Accounting
Q17.Appropriations are the transactions that happen between firm and partners in the capacity of ___________
(1) Outsider
(2) Partner
(3) None of these
(4) Either A or B
Answer
Partner
Q18.A liability arises because of:
(1) Cash transaction
(2) Credit transaction
(3) Cash and credit transaction
(4) None of the options
Answer
Credit transaction