Accounting Mcqs

Page No. 69

The unsold goods are ______________?


aEquity


bSale return


cInventory


dPurchases


View Answer Inventory

Debts which are payable in the course of a month are called _____________?


aExternal liabilities


bFixed liabilities


cCurrent liabilities


dLiquid Liabilities


View Answer Current liabilities

Income earned but not received is called ____________?


aFictitious assets


bQuick asset


cReal asset


dOutstanding asset


View Answer Outstanding asset

The assets which come into existence upon the happening of a certain event are called__________?


aContingent assets


bFixed assets


cFictitious assets


dQuick assets


View Answer Contingent assets

The assets which have some market value are called ____________?


aFixed asset


bQuick asset


cFictitious assets


dReal assets


View Answer Real assets

Assets having physical existence are called ___________?


aCurrent asset


bintangible asset


cTangible asset


dLiquid asset


View Answer Tangible asset

When owner withdraw cash for its private use, it is called ___________?


aProfit


bIncome


cExpense


dDrawing


View Answer Drawing

For the business, capital is ____________?


aExpense


bLiability


cAssets


dAll of them


View Answer Liability

Building and furniture are called ____________?


aCurrent asset


bFictitious asset


cTangible asset


dFixed assets


View Answer Fixed assets

In support of business transaction, any written evidence is called ___________?


aDiscount


bVoucher


cAllowance


dPrice


View Answer Voucher

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