CLAT CLAT Solved Paper-2010

  • question_answer
    Directions: From the four options given, shade the appropriate correct option in the space provided for it on the OMR Answer Sheet.
    A nominal sum given as a token for striking a sale is called

    A) Earnest money            

    B) Advance

    C) Interest                        

    D) Solarium

    Correct Answer: B

    Solution :

    Ans.   An advance payment, or simply an advance, is the part of a contractually due sum that is paid in advance for goods or services, while the balance included in the invoice, invoice will only follow the delivery. It is called a prepaid expense in accrual accounting.

You need to login to perform this action.
You will be redirected in 3 sec spinner