Discount on purchase will be
A) Debited to profit and loss account
B) Credited to profit and loss account
C) Deducted from purchases
D) Added to purchases
Correct Answer:
Verified
Q9: Mines, quarries etc are
A)Fixed asset
B)Fictitious asset
C)Current asset
D)Wasting
Q10: The final accounts , when adjustment entry
Q11: The closing stock will appear in trial
Q12: Outstanding salary is shown on
A)Balance sheet
B)Trading account
C)Suspense
Q13: If closing stock appear on the trial
Q15: Resources which are invested in permanent asset
Q16: Sales is equal to
A)Net income + expenses
Q17: The premium paid on the life policy
Q18: Expenses which have become due during the
Q19: Balance sheet is a _
A)Ledger
B)Account
C)Statement
D)Subsidiary book
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