Worksheetseconomics
Total questions: 13
Worksheet time: 3mins
A person who owes to an enterprise against sale of goods is called a
creditor
Debtor
Proprietor
allofthem
A person to whom money is owed by an enterprise against purchase is called a
Debtor
Creditor
Liability
owner
Purchase refers to the buying of
Goods for sale
Assets for the factory
sationery for office use
goods for consumption
The amount invested by the proprietor in a business is called
revenues
capital
cash
liability
Liability arises because of
cash transaction
cash as well as credit transaction
credit transaction
Non of the above
A person to whom a firm owes money for purchase of goods
(a)
the amount invested by the owner in business is called (a)
The amount of debts (a) from the debtors are termed as bad debt
A person who owes money to the firm for sale of goods is called (a)
State in each case, whether the items are to be regarded as goods and assets.
1. Machine purchased by Mr.X for production of goods.
Asset
Goods
Machines manufactured by ABC for sale
Asset
Goods
Furniture purchased by Rinzin, A dealer in furniture
Goods
Asset
Computer manufactured by Wangchuk Company for sale in the Market.
Asset
Inventory
