Obligation of the Business are known as___________?
A. Liabilities
B. Revenues
C. Expenses
D. Assets
Related Questions on Accounting Mcqs
A systematic way to maintain the books of accounts is called_________?
A. Accountancy
B. Economics
C. Book Keeping
D. Auditing
An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?
A. Accounting
B. Accountancy
C. Auditing
D. Book Keeping
The maintenance of accounts in a systematic way is called__________?
A. Accounting
B. Reading
C. Book Keeping
D. Auditing
Goods Return by the customer are termed as :
A. Purchase return
B. Customer return
C. Sales return
D. Inventory return
Modern system of book keeping is called______________?
A. Double entry system
B. American system
C. Single entry system
D. Italic system