aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • Financial Accounting - Commerce
  • Cash discounts do not appear in the account books but tra...
Multiple choice

Cash discounts do not appear in the account books but trade discounts appear.

  1. True

  2. False

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Explanation: Answer is the other way round. Cash discounts are accounted in the books of account. Trade discounts are not accounted in the books of account.

Keep practicing — related questions

  • Stock is appearing in the books at Rs. 36,000 and it is undervalued by 20%. How to treat it in the revaluat...
  • The process of maintenance of account books, discounting of bills and collection of bills on due date by a ...
  • A shopkeeper offers 12% discount on plastic toys. He offers a further discount of 5% on cash payment. What ...
  • If the joint life policy is not appearing in the books and the firm decides not to show it in the books, wh...
  • Which of the following items should not appear in partner's capital account?
  • What should be the treatment of debit balance of profit and loss account appearing in the balance sheet at ...
  • The book value of investment is Rs. 1, 20,000 and investment fluctuation fund is appearing at Rs. 15,000. T...
  • A shopkeeper earns a profit of 20% on selling a book at 5% discount on printed price. Find the ratio of the...
Play the full quiz 🎤 Practise this topic out loud
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy