Discount allowed is a kind of deduction from Options: A . &nbspAccount Payable B . &nbspAccount Receivable C . &nbspCash account D . &nbspDiscount account

Discount allowed is a kind of deduction from

Question

Discount allowed is a kind of deduction from

Options:

A . Account Payable

B . Account Receivable

C . Cash account

D . Discount account

Answer: Option B

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Question 1. The Journal entry in which two or more account is debited or credited is referred to as....

Question 2. Every business transaction affects at least ____ accounts....

Question 3. Goods returned by customer should be debited to which of the following accounts?....

Question 4. Discount allowed is....

Question 5. Which of the following will be debited if a business purchases goods on credit?....

Question 6. Journals are also referred to as....

Question 7. Which of the following accounts will be debited if the business's owner withdraws cash from business for personal use?....

Question 8. The standard format of Journal does not include which of the following?....

Question 9. In which of the following order, data is entered into the Journal?....

Question 10. Which of the following accounts will be credited if a company purchases building for cash?....

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