Question

5)
What is Goodwill?
Q.2 Give the word term or phrase which can substitute each of the following statements:
1) Recording of business transactions.
2) Amount invested in business by the proprietor.
3) A person to whom amount is payable.
4) Exchange between two persons.
5) Excess of expenses over income
6) A person whose assets are sufficient enough to meet business obligations.
7) Art and science of recording business transactions.
8) Property of any description owned by Proprietor.
9) Assets which remain in the business for only for short time and can be converted into cash
very easily.
10) Allowance is given on catalogue price of goods
​

Answer 1

Answer:

1) accounting

2) capital

3) creditor

4)transaction

5)loss

6) solvent

7) accounting

8) assets

9) current assets

10) trade discount

hope it helps