All those to whom business owes to money are

Related MCQs

• A _________ is a person to whom business owes money
• A person who owes money to the business is a __________
• A person who owes money to the firm is called
• X a debtor is declared insolvent and only 25 paise in a rupee is recovered from his estate. If X owes ` 5,000 to Y, Y would debit Cash A/c by —
• The amount of money owed by a business to outsider is called _____
• According to the money measurement concept, the following will be recorded in the books of account of the business:
• Which of the following transactions of a business is/ are recorded in Journal Proper? (i) Purchase of goods on credit (ii) Sale of Office Furniture for cash (iii) Discounting of Bill of Exchange with a bank (iv) Endorsement of a Bill of Exchange in settlement of debt of the business
• Any income or profit derived by carrying on the business or during the course of business is called-
• If an employee of the business files a legal suit on business, it is considered in the books as
• On 31st March, goods sold at a sale price of ` 30,000 were lying with customer, Mohan to whom these goods were sold on 'sale or return basis' and recorded as actual sales. Since' no consent was received from Mohan, the adjustment entry was made presuming goods were sent on approval at a profit of cost plus 20%. In the balance sheet, the stock with customers account will be shown at `