Fill in the blanks :
(i) Amount which the proprietor has invested in a business is known as ……………
(ii) Amount which the firm owes to outsiders is knows as ……………
(iii) …………….. Is the cost incurred in producing goods and services.
(iv) Revenue means the income of a ................ nature.
(v) The term 'sales ' is used only for the sales of ..................... and is never used for the sale of .................
(vi) The persons who still owe some amount to the business are termed as ................. (vii) The persons to whom money is owing by the firm are termed as ...................
(viii) Assets held for continued use in the business and not meant for resale are termed as .....................
(ix) ................... are those assets which have a physical existence and which can be seen or felt.
(x) .................. refer to those liabilities which are to be paid normally within one year.

Explanation

(i) Capital (ii) Liability (iii) Expenses
(iv) Regular or recurring (v) Goods, Assets (vi) Debtors
(vii) Creditors (viii) Fixed Assets (ix) Tangible Assets
(x) Current Liabilities.