A. Credit sales
B. Credit purchases
C. Credit sales and purchases
D. Cash sales and purchases
Correct Answer: Cash sales and purchases ✔
Last Updated: July 26, 2017
Related MCQs
- Which of the following specialised journals will record “goods returned by the BUSINESS “?
- Another name of journal is__________?
- Transactions that a BUSINESS doesn’t record in any specialised journal are recorded in which of the following journals or day books?
- Sales on credit is recorded in which of the following journal?
- Which of the following specialized journals records “goods returned by customers”?
- Which of the following account with normal balance is shown at the credit side of a trial balance?
- Which of the following account with normal balance is shown at the debit side of a trial balance?
- If debit balances = credit balances, trial balance only shows or check the __________ and it does not indicate that no errors were made during recording and posting.
- Which of the following will affect the agreement of a trial balance?
- Trial balance is commonly prepared?
- Debit balance = Credit balance in a trial balance indicates that:
- Which of the following is true about a trial balance?
- ________ is the common base for preparing a trial balance?
- If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?
- Trial balance is prepared to check accuracy of__________?
- Institute of Chartered Accountants of Pakistan was established in__________?
- Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of__________?
- A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of__________?
- The systems of accounting are __________?
- The unsold goods are __________?
- Debts which are payable in the course of a month are called __________?
- Income earned but not received is called __________?
- The assets which come into existence upon the happening of a certain event are called__________?
- The assets which have some market value are called __________?
- Assets having physical existence are called __________?
- When owner withdraw cash for its private use, it is called __________?
- Building and furniture are called __________?
- In support of business transaction, any written evidence is called __________?
- The concession received on the price of defective goods is called:
- Cash brought by the owner to start business is called__________?
- reduction in price is called:
- Sales return is also known as__________?
- When goods, in which business deals are sold, it is called__________?
- The excess of current assets over current liabilities is called:
- Goods return to supplier are known as:__________?
- The amount invested by the proprietor to start the business is called:
- Obligation of the Business are known as__________?
- Discount received is a/an:
- Double entry means__________?
- The person to whom goods are sold on credit is called__________?
- Modern system of book keeping is called__________?
- Goods Return by the customer are termed as :
- The maintenance of accounts in a systematic way is called__________?
- An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?
- A systematic way to maintain the books of accounts is called_________?