All the proceeds which are received by the business as a result of the sale of goods is called _________________?

Related Mcqs:

1. Mr. Jun Ramos was granted a loan of P20,000 by his employer Excel First Review and Training Center, Inc. with an interest of 6% for 180 days on the principal collected in advance. The corporation would accept a promissory note for P20,000 non-interest for 180 days. If discounted at once, find the proceeds of the note?

   A. P18,000
   B. P18,900
   C. P19,000
   D. P19,100

2. A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities ?

   A. Sole proprietorship
   B. Entrepreneurship
   C. Partnership
   D. Corporation

3. What refers to the amount of a product made available for sale ?

   A. Supply
   B. Demand
   C. Product
   D. Good

4. An association of two or more persons for the purpose of engaging into a business for profit is called ____________________?

   A. Entrepreneurship
   B. Partnership
   C. Proprietorship
   D. Corporation

5. Aggregation of individuals formed for the purpose of conducting a business and recognized by law as a fictitious person is called ________________________?

   A. Partnership
   B. Investors
   C. Corporation
   D. Stockholders

6. A form of business firm which is owned and run by a group of individuals for their mutual benefit is called ___________________?

   A. Cooperative
   B. Corporation
   C. Enterprise
   D. Partnership

7. The first cost to be incurred if the piece of equipment now in place had been bought for a second hand dealer or some other business is called ____________________?

   A. Material cost
   B. Fixed cost
   C. First cost
   D. In-place value

8. Mr. Bacani borrowed money from the bank. He received from the bank P1,842 and promised to repay P2,000 at the end of 10 months. Determine the rate of simple interest?

   A. 12.19 %
   B. 12.03 %
   C. 11.54 %
   D. 10.29 %

9. A college freshman borrowed P2,000 from a bank for his tuition fee and promised to pay the amount for one year. He received only the amount of P1,920 after the bank collected the advance interest of P80.00. What was the rate of discount ?

   A. 3.67 %
   B. 4.00 %
   C. 4.15 %
   D. 4.25 %

10. What refers to an imaginary cost representing what will not be received if a particular strategy is rejected ?

    A. Opportunity cost
    B. Ghost cost
    C. Horizon cost
    D. Null cost