Take the quiz. Retake and answer more questions.
QUIZ START
#1. The vendor/seller gives a trade discount only on credit transactions
The vendor/seller gives the trade discount both on cash/credit based transactions.
#2. The recording of all the business transactions systematically in a set of books is an art. We call this as
#4. The surplus of assets over the liabilities is called as
#5. In a business, ________ is purchased and sold
#7. The discount given on cash transactions is called as
#8. _____________ is the document that certifies the purchase or sale or any other monetary transaction.
#9. We use ________ to record the transactions pertaining to an asset, expense, liability, person, firm or institution.
#10. ____________ are owned by the business and help in smooth functioning of the business.
