Accounting & Economics

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14/08/2026

Which of the following is added to purchases in trading account? A. Carriage inwards B. Carriage outwards C. Returns inwards

12/08/2026

The excess of net sales over cost of sales is known as ---
A. Net profit B. Gross profit C. Net loss

10/08/2026
10/08/2026

The satisfaction obtained from the consumption of a commodity is termed
A. Equilibrium B. Choice C. Utility

08/08/2026

The reward for entrepreneurship is --
A. Interest B. Rent C. Profit

08/08/2026

The cost that doesn't change as output changes is termed---
A. Fixed cost B. Average cost C. Marginal cost

07/08/2026

The sum of fixed cost (FC) and variable cost(VC) is termed
A. Marginal cost B. Total cost C. Average cost

05/08/2026

Who is regarded as the father of Accounting? A. Adams Smith B. Luca Pacioli C. Alfred Marshall

The excess of total revenue (TR) over total cost (TC) is termed ---A. Profit B. Loss C. Break-even
04/08/2026

The excess of total revenue (TR) over total cost (TC) is termed ---A. Profit B. Loss C. Break-even

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