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DK GOEL-BASIC ACCOUNTING TERMS-VERY SHORT ANSWER QUESTIONS
- What are Assets?
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- What are Current Assets?
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- Give two examples of Current Assets.
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- Give two examples fo Tangible Assets.
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- Give two examples of Intangible Assets.
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- What are Fictitious Assets?
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- What are Current Liabilities?
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- Give two examples of Current Liabilities.
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- What are Internal Liabilities?
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- What is expense?
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- What is revenue?
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- What is income?
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- What is a Voucher?
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- What is Trade Discount?
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- What is Cash Discount?
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- What is meant by Purchases?
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- What is meant by Sales?
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- Define Merchandise.
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- Profit is earned on sale of Fixed Asset. What should be the accountin...
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- Give two examples of revenue expenditure.
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