Question

2.1 Answer in One Sentence:
1) What is Book-keeping ?
g) What is meant by Goods?
3) What is Capital?
What is Drawings?
-5) What is Goodwill?​

Answer 1

Answer:

1.accountancy, auditing, recording, accounting.

2. merchandise

3.money

4. delineation

5. benevolence

Answer 2

Answer:

1. Book-keeping is the proper and systematic keeping or maintenance of the books of accounts.

2. Products or articles purchased for sale at profit or processing by the business or for use in the manufacture of certain other goods as raw materials are known as goods.

3. Capital is the amount of money where the owner or partners of a firm starts their business.

4. Amount or goods withdrawn by the proprietor (An individual or group of person) for his private or personal use is termed as drawings.

5. Goodwill is an intangible (which cannot be seen) asset, it is recorded on the balance sheet and it is a fixed asset.