Which assets are assets hold on a short term basis?
Current assets
Fixed assets
Preliminary expense
Profit
Stock on hand is the amount of goods which are lying unsold as at the end of an accounting period is called:
Opening stock
Closing stock
Stock in hand
Semi finished goods
Which is the withdrawal of goods by the owner from the business for personal use?
Voucher
Drawing
Purchase
Sales
Which is true?
Income = Revenue - expense
Income = expense - revenue
Income = Revenue - loss
Income = revenue + expense
Purchase of machinery is treated as:
Capital expenditure
Revenue expenditure
Sale expenditure
Revenue income
Revenue is also called:
Income
Loss
Expenses
Which are the total revenue from goods or services provided to customers?
Purchases
Assets
Capital
The excess of revenues of a period over its related expenses during the accounting year.
Discount
