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#1. The surplus of assets over the liabilities is called as
#2. _________ is the legal activity performed to earn profits.
#3. The vendor/seller gives a trade discount only on credit transactions
The vendor/seller gives the trade discount both on cash/credit based transactions.
#4. The investment by the proprietor in the business, in the form of goods/cash or any other assets is known as
#5. _____________ is the document that certifies the purchase or sale or any other monetary transaction.
#6. A Building is
#7. When a business purchases furniture for sale, it will considered as “purchases of goods”
#8. The inventory of goods that remain unused/unsold at the end of the year is called as
#9. The cash available with the business is fixed asset
Cash is current asset.