Which of the following is a Current Liability?

a.

Marketable securities

b.

Accounts payable

c.

Prepared expense

d.

Bills receivables

Name the books of prime entry to record the business transaction given below:Sold goods worth OMR 22,000 on credit to Mr. Issa Mohammed.

a.

Sales returns book

b.

Cash payment book

c.

Sales daybook,

d.

Purchase daybook

Ms. Fathima buys goods on credit from Pearl Company, but she finds that some of them are faulty. Identify the document that would be received by Pearl Company along with the return of faulty goods from Ms. Fathima.

a.

Invoice

b.

Receipts

c.

Cash memo

d.

Debit note