Which of the following is used for recording for sales of goods on credit?
A. Purchase Journal
B. Sales Journal
C. Sales return Journal
D. None
Answer: Option B
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Hindrances of time are removed by which aids to trade?
A. Insurance
B. Banking
C. Warehousing
D. Packaging
Credit balance of a ledger account is denoted by
A. Excess of credit side over debit side
B. Excess of debit side over credit side
C. Equally of debit and credit
D. Any of the above
What do you mean by a mixed economy?
A. Modem and traditional industries
B. Public and private sectors
C. Foreign and domestic investments
D. Commercial and subsistence farming
Cash book is a subsidary as well as a
A. Memorandum book
B. Secondary book
C. Principal book
D. None of these
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