A. Purchases
B. Return inward
C. Sales
D. Return outwards
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Related Mcqs:
- Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?
A. 1,600
B. 1,500
C. 1,000
D. 1,800Updated by: Mohammad Ejaz
- The person to whom goods are sold on credit is called___________?
A. Buyer
B. Seller
C. Debtor
D. Creditor - Cost of goods sold excludes___________?
A. Opening Stock
B. Carriage inward
C. Wages & Salary
D. Postage & Stamps - Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?
A. Drawings
B. Cash
C. Business
D. Stock - Which of the following specialised journals will record “goods returned by the BUSINESS “?
A. Purchase journal
B. Sales journal
C. Purchases return journal
D. Sales return journal - Which of the following will be debited if a business purchases goods on credit?
A. Cash
B. Debtor
C. Creditor
D. Purchases - Budgeted sales for the next year is 5,00,000 units. Desired ending finished goods inventory is 1,50,000 units and equivalent units in ending W-I-P inventory is 60,000 units. The opening finished goods inventory for the next year is 80,000 units, with 50,000 equivalent units in beginning W-I-P inventory How many equivalent units should be produced?
A. 5,80,000
B. 5,50,000
C. 5,00,000
D. 5,75,000 - Costs that change in response to alternative courses of action are called___________?
A. Relevant costs
B. Differential costs
C. Target costs
D. Sunk costs - In support of business transaction, any written evidence is called ___________?
A. Discount
B. Voucher
C. Allowance
D. Price - For the business, capital is ____________?
A. Expense
B. Liability
C. financial assets
D. All of them
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The correct answer to the question: "When goods, in which business deals are sold, it is called___________?" is "Sales".