
Introduction To Accounting:
Authored by Sir. Tanveer
Business
11th Grade - University
Used 50+ times

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13 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The rate of allowance given by a creditor to a debtor, if he pays his debts before the due date of payment is normally: 2015
A. 2%
B. 5%
C. 10%
D. 15
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Person who owes money to a business is known as a: 2016
A. Creditor
B. Debtor
C. investor
D. Solvent
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Received cash from Bilal will affect: 2016
A. Cash and creditors
B. Cash and stock
C. Cash and owner's equity
D. Cash and debtors
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Discount allowed is: 2016
A. An expense
B. A liability
C. A revenue
D. An asset
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A claim of the supplier in the business is called: 2016
A. Asset
B. Liability
C. Expense
D. Revenue
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
_________are the persons from whom the goods are purchased on credit: 2017
A. Debtors
B. Creditors
C. Owners
D. Investors
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In sole proprietorship business income tax is treated as: 2017
A. Expense
B. Drawings
C. Cost
D. Revenue
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