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. Operating profit
3. deferred revenue expenditure
4. Trade discount
5. credition

Answer 2

Answer:

1) income

2) operatins profit

3) deferred revenue expenditure

4) trade discount

5) credition

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