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#1. ____________ are owned by the business and help in smooth functioning of the business.
#2. The recording of all the business transactions systematically in a set of books is an art. We call this as
#3. Right side of a ledger account is
#4. The investment by the proprietor in the business, in the form of goods/cash or any other assets is known as
#5. Book Keeping is
#6. The cash available with the business is fixed asset
Cash is current asset.
#7. Closing stock refers to the goods brought in by the owner when the business is started
#8. In ________ entry system only one aspect of a business transaction is recorded
#9. The vendor/seller gives a trade discount only on credit transactions
The vendor/seller gives the trade discount both on cash/credit based transactions.