Allowance made for prompt payment is called
A) Cash allowance
B) Cash discount
C) Trade discount
D) Discount
Correct Answer:
Verified
Q23: Source document for sales returns
A)Debit note
B)Credit note
C)Source
Q24: Petty cash book is prepaid under _
Q25: Special journal is also called
A)Journal proper
B)Subsidiary books
C)Original
Q26: Gross assets - liabilities will be equal
Q27: Purchase ledger contains the accounts of
A)Debtors
B)Creditors
C)Total purchase
D)All
Q29: Sales ledger contains accounts of
A)Suppliers
B)Customers
C)Total sales
D)All the
Q30: Credit note is sent by
A)Seller
B)Customer
C)Buyer
D)Borrower
Q31: Total sales book indicates
A)Total credit sales
B)Total cash
Q32: Total sales made during a year is
Q33: Sales return account is a _ account
A)Personal
B)Nominal
C)Real
D)Current
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