When goods, in which business deals are sold, it is called___________?
A. Purchases
B. Return inward
C. Sales
D. Return outwards
Accounting MCQs with Answers
Sales return is also known as____________?
A. Return received
B. Return Payed
C. Return inward
D. Return outward
reduction in price is called:
A. Paid price
B. Invoice price
C. Book price
D. Discount
Cash brought by the owner to start business is called__________?
A. Capital
B. Loan
C. Drawing
D. None of these
The concession received on the price of defective goods is called:
A. Discount
B. Cash discount
C. Allowance
D. Trading discount
In support of business transaction, any written evidence is called ___________?
A. Discount
B. Voucher
C. Allowance
D. Price
If the beginning work in process inventory units are 2600, units started are 9000, ending work in process units are 2300 and the completed good units are 8000 then total spoilage will be ____________?
A. 1200 units
B. 990 units
C. 1300 units
D. 1000 units
The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?
A. Depreciation
B. Physical deterioration of the asset
C. Decrease in market value of the asset
D. Valuation of an asset at a point of time
In March 2025, which country completed the second of eight contracted submarines for Pakistan, enhancing their military relationship?
A. Russia
B. United States
C. China
D. France
What was the magnitude of the main earthquake that struck Myanmar and Thailand on 28th March 2025?
A. 6.4
B. 7.7
C. 7.0
D. 6.8
