The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as -----.

The long term assets that have no physical existence but are rights that have value is known as

Accounting provides information on

The cost incurred by a business in the process of earning revenue is ---.

Discount allowed to a customer is ---- to the business.

The current liabilities are used to denote those liabilities which are payable ---.

Asset can be converted in to cash with in an year is called ---.

Owner's right and claims to the business ----.

Claim by creditors to the property of a business ---.

Properties used in the business is ---.

The ledger folio column of the journal is used to -----.

----- transaction is one wherein payment or receipt of money is postponed for a future date.

All claims against the business are called ----.

Information in financial business is based on ---- Transaction.

A person who entitled to get money from the business is termed as ----.

Analysis of recorded data to bring entries of similar nature to one place is called ---- .

The asset bought for long term use in the business are termed as ----- asset.

The amount earned by a business concern through sale of its products or providing services to customers is called

----- assets are those assets, which do not have physical form.

Arun, a sole trader, draw Rs. 500 from the business for paying tuition fees to his child. This amount is termed as

Value of goods remaining unsold at the end of an accounting period is termed as

Find out the odd one out and state reason.

Which qualitative characteristics of accounting information is reflected when accounting information is clearly presented

Amount spent for purchasing fixed asset is a

A person who owes money to the business is a

A voucher in accounting is:

Opening stock is:

The value of goods remaining unsold at the end of the accounting year is called:

In accounting, Stock refers to:

Which discount is never shown in the accounting books?

Trade discount is usually given:

Operational loss arises from:

Loss occurs when:

Formula for income is:

Income refers to:

Which of the following is an example of gain?

Gain is:

Profit leads to an increase in:

Profit is generated from:

Profit is defined as:

Loan taken from bank is classified as:

Revenue receipts are shown on the:

Capital receipts are shown in the:

Revenue receipts are:

Which of the following is a capital receipt?

Capital receipts are:

Which expenditure increases the earning capacity of the business?

Depreciation on fixed assets is classified as:

Revenue expenditure is:

Capital expenditure is: