Question 11 Mark______ is the cost incurred in producing goods and services.AnswerExpenses is the cost incurred in producing goods and services.View full question & answer→
Question 21 MarkRevenue means the income of a ______.AnswerRevenue means the income of a Regular or Recurring.View full question & answer→
Question 31 MarkThe persons who still owe some amount to the business are termed as ______.AnswerThe persons who still owe some amount to the business are termed as Debtor.View full question & answer→
Question 41 MarkAmount which the proprietor has invested in a business is known as _______.AnswerAmount which the proprietor has invested in a business is known as Capital.View full question & answer→
Question 51 Mark______ refer to those liabilities which are to be paid normally within one year.AnswerCurrent Liabilities refer to those liabilities which are to be paid normally within one year.View full question & answer→
Question 61 Mark___________ are those assets which have a physical existence and which can be seen or felt.AnswerTangible Assets are those assets which have a physical existence and which can be seen or felt.View full question & answer→
Question 71 MarkAssets held for continued use in the business and not meant for resale are termed as _______.AnswerAssets held for continued use in the business and not meant for resale are termed as Fixed Assets.View full question & answer→
Question 81 MarkAmount which the firm owes to outsiders is known as ______.AnswerAmount which the firm owes to outsiders is known as Liability.View full question & answer→
Question 91 MarkThe persons to whom money is owing by the firm are termed as _______.AnswerThe persons to whom money is owing by the firm are termed as Creditor.View full question & answer→
Question 101 MarkThe term 'sales' is used only for the sales of _______ and is never used for the sale of ______.AnswerThe term 'sales' is used only for the sales of Goods and is never used for the sale of Assets.View full question & answer→