Which of the following is a leverage ratio?
A). Debt equity ratio
B). Current ratio
C). Quick ratio
D). Earning power
The trade discount on purchases is recorded
A). When it is received
B). When the inventory is purchased
C). When the inventory is sold
D). Not at all recorded in the books
Under cash basis of accounting, revenue is recognized when
A). Sale is made
B). Cash is received
C). Goods are delivered
D). Services are rendered
The claims against the company not acknowledged as debts are shown as
A). Current liabilities
B). Loans and advances
C). Notes to balance sheet
D). Director's report
Purchase of fixed assets on credit is originally recorded in
A). Purchases book
B). Ledger
C). Cash book
D). Journal Proper