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#1. The recording of all the business transactions systematically in a set of books is an art. We call this as
#2. We use ________ to record the transactions pertaining to an asset, expense, liability, person, firm or institution.
#3. Vouchers are
#4. When an entity (a person or firm or an institution) purchases the goods or services but does not pay in cash is called as
#5. The cash available with the business is fixed asset
Cash is current asset.
#6. Book Keeping is
#7. The inventory of goods that remain unused/unsold at the end of the year is called as
#8. In ________ entry system only one aspect of a business transaction is recorded
#9. The surplus of assets over the liabilities is called as
#10. The vendor/seller gives a trade discount only on credit transactions
The vendor/seller gives the trade discount both on cash/credit based transactions.