Accounting Mcqs
reduction in price is called:

A. Paid price
B. Invoice price
C. Book price
D. Discount

Depreciation is a process of____________?

A. Valuation
B. Valuation and allocation
C. Allocation
D. Appropriation

A systematic way to maintain the books of accounts is called_________?

A. Accountancy
B. Economics
C. Book Keeping
D. Auditing

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