Question

Q.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 is
5)
A person to whom business owes money for the goods or services is known as​

Answer 1

Answer:

1. Revenue from operation

2.operating profit

3. deferred revenue expenditure

4.trade discount

5. creditors