Is given to businessman when clear his payment before certain period ?

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) … Read more

Building A/c is related to

Q32.Building A/c is related to (1) Real A/c (2) Personal A/c (3) None of these (4) Nominal A/c Answer Real A/c Related Questions on Theory Base of Accounting Q33.Trade discount is : (1) Allowed at the time of sale of goods (2) Allowed at the time of receiving payment (3) Allowed in all the cases) … Read more

A liability arises because of:

Q48. A liability arises because of: (1) Cash transaction (2) Credit transaction (3) Cash and credit transaction (4) None of the options Answer Credit transaction Related Questions on Theory Base of Accounting Q49.Which one of the following statement is correct? (1) Income = Expenses – Revenue. (2) Income = Revenue Expenses. (3) Income= Profits – … Read more