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#1. When a business purchases furniture for sale, it will considered as “purchases of goods”
#2. We use ________ to record the transactions pertaining to an asset, expense, liability, person, firm or institution.
#3. In ________ entry system only one aspect of a business transaction is recorded
#4. Book Keeping is
#5. The discount given on cash transactions is called as
#6. A Building is
#7. The inventory of goods that remain unused/unsold at the end of the year is called as
#8. The vendor/seller gives a trade discount only on credit transactions
The vendor/seller gives the trade discount both on cash/credit based transactions.