Question 1 Not yet answered Marked out of 1.00 Flag question Assuming that you are a retail merchandiser. You bought goods from wholesale merchandise under the credit terms of 2/10 n/30. What do you mean by n/30 under the credit term? O a maximum Credit days 30 O b. maximum Credit days 10 Oc.maximum discount 10% Od maximum discount 30% It is prepared with an objective to test the arithmetic accuracy of the accounts Question 2 Not yet answered Marked out of 1.00 O a. Ledger O b. Trial Balance O c. Books of Prime entry O d. Journal Flag question Which of the following statement is False for a Simple-Step Income Statement? Question 3 Not yet answered Marked out of 1.00 P Flag question O a. Net Profit can be calculated O b. Selling expenses will be calculated under total expenses Oc General and Administration expenses will be taken under total expenses O d. Cost of goods sold will be taken under total revenue Which of the following will be not be called as Source Document of a Business? Question 4 Not yet answered Marked out of 1.00 P Flag question O a. Purchase invoice received by the business O b. List of suppliers are kept under Purchase ledger by the business O c. Sales invoice issued by the business O d. Debit note raised by the business