Interest on drawings is
A) An expenditure for the business
B) an expense for the business
C) a gain for the business
D) a loss for the business
Correct Answer:
Verified
Q6: The proceeds of assets not specifically pledged
Q7: Out Of The following, Direct Expense Is
A)Salaries
B)carriage
Q8: Goodwill is a
A)Fixed asset
B)current asset
C)intangible asset
D)fictitious asset
Q9: Income received in advance is
A)An income
B)a liability
C)an
Q10: Sales are equal to
A)Cost of goods sold
Q12: Which of the following is a current
Q13: In the case of net worth method
Q14: Capital at the beginning of the year
Q15: The amount of opening stock can be
Q16: The closing balance in the creditors account
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