Correct Answer: B
Explanation
Explanation
Current Assets is the correct answer.
Correct Answered :
Wrong Answered :
A
Capital
B
Current Assets
C
Current Liabilities
D
Fixed Assets
Current Assets is the correct answer.
Correct Answered :
Wrong Answered :
A
Directors
B
Employees
C
Shareholders
D
Managers
A company owned by the shareholders.
Correct Answered :
Wrong Answered :
A
Purchasing Office supplies
B
Hiring a new Employee
C
Paying interest on business loan
D
Receiving fee for services
A business transaction is an economic event with a third party that is recorded in an organizations accounting system. Such a transaction must be measurable in money.
Correct Answered :
Wrong Answered :
A
Purchase of Property
B
Purchase of Office equipment
C
Replacement of Vehcile
D
Repair of vehicle
Capital expenditures (CapEx) are funds used by a company to acquire, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment. CapEx is often used to undertake new projects or investments by a company.
Correct Answered :
Wrong Answered :
A
Amortization
B
Depletion
C
Going Concern
D
Residual Value
The concept of going concern assumes that a business firm would continue to carry out its operations indefinitely.
Correct Answered :
Wrong Answered :
A
Amortization
B
Depletion
C
Going Concern
D
Residual Value
The process of recording consumption of natural resources is called deplition.
Correct Answered :
Wrong Answered :
A
Amortization
B
Depletion
C
Going Concern
D
Residual Value
The process of allocating the cost of intangible assets to expense is called amortization, and companies almost always use the straight‐line method to amortize intangible assets.
Correct Answered :
Wrong Answered :
A
Cost of an asset + Residual value
B
Cost of an asset – Residual value
C
Residual value – Cost of an asset
D
None of these
Depreciation is referred to as the reduction in the cost of a fixed asset in sequential order, due to wear and tear until the asset becomes obsolete.
Correct Answered :
Wrong Answered :
A
Rs 1,000
B
Rs 1,500
C
Rs 2,000
D
Rs 2,500
Rs 2,000
Correct Answered :
Wrong Answered :
A
I only
B
II only
C
I & II Only
D
I , II and III
Every business requires assets to run its operations and such assets that help a business in maintaining its daily operations are called tangible assets.Tangible assets can be seen and felt and are also capable of being damaged by fire, natural disaster or any accident. The tangible assets have a clearly defined purchase value or acquisition cost.
Correct Answered :
Wrong Answered :