#1. Trade discount is given on credit transactions only.
#2. Furniture purchased by a Trader dealing in Furniture will be treated as ‘purchases’ for him.
#3. Adjusting journal entries are not used to record ——— expenses or unearned revenues.
#4. Books of original entry are called
#5. The amount drawn by businessmen for his personal use is-
#6. Cash is a Fixed Asset of a Business.
#7. The goods invested at the commencement of the business is called closing stock.
#8. Any legal activity performed for earning profit is called.
#9. The head under which transactions pertaining to a person, institution, firm, expenses, assets etc. is recorded is called
#10. The system in which only one aspect of the transaction is recorded is called