Question

0.6 Complete the following sentences :
1) Revenue arising as a result of business transactions is known as ________________
2) Excess of gross profit over operating expenses is _______________
3) An expenditure which is basically revenue in nature but benefit of which is not exhausted within one year is called as ______________
4) The amount deducted by the seller from the list price of goods at the time of sale __________________
5) A person to whom business owes money for the goods or services is known as ________________ ​

Answer 1

Answer:

1. income

2. debit

3. prepaid expenditure

4. trade discount

5. businessman