Explanation

I asked him, “Where will you stay?”

In direct speech, the pronoun and tense are adjusted: "he would stay" becomes "you will stay."

Since it's a question, the correct form uses "will" before the subject.

Explanation

Taking goods for personal use reduces business inventory, so purchases are credited.

It’s a personal expense of the owner, so drawings account is debited.

Explanation

Demand in economics refers not just to desire, but to the ability and willingness to purchase at given prices.

It includes a time element and is dependent on price variations.

Explanation

Debentures are a form of long-term debt instrument used by companies to raise capital.

They are repayable after a fixed period and carry a fixed interest rate.

Explanation

Intangible assets are long-term assets that do not have a physical form but hold value, like patents or trademarks.

They provide future economic benefits to a business without physical existence.

Explanation

Stock taking is a physical count and valuation of inventory at the end of the financial year.

It provides an accurate measure of closing stock, essential for preparing final accounts.

Explanation

A trial balance is prepared by taking the balances from ledger accounts.

It helps check the arithmetic accuracy of bookkeeping entries.

Explanation

Financial asset valuation is primarily based on the present value of expected future cash flows, such as interest or dividends.

This approach discounts future income to reflect its value in today's terms, helping investors assess true worth.

Explanation

A price floor sets a minimum price to support farmers’ incomes.

It prevents prices from falling below a certain level, helping stabilize agricultural markets.

Explanation

A fresco is a technique of mural painting done with watercolors on freshly applied plaster, usually on walls or ceilings.

It was commonly used in Renaissance art.

It differs from other forms by its application on wet plaster.