If a company has contingent liabilities, they appear in the__________?

Related Mcqs:

1. Which of the following is not a contingent liability?

   A. Debts included in Sundry Debtors which are doubtful in nature
   B. Uncalled liability on partly paid shares
   C. Claims against the company not acknowledged as debts
   D. Arrears of fixed cumulative dividend

2. Liabilities are which of the following?

   A. Resources
   B. Obligations
   C. Future benefits
   D. Expenses

3. The real accounts are accounts of Assets, liabilities and ___________?

   A. Expenses
   B. Revenues
   C. Capital
   D. Drawing

4. Find out the value of assets if: Liabilities=$5000 and Capital=$1000

   A. $4000
   B. $6000
   C. $7000
   D. $3000

5. Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000

   A. $6000
   B. $10,000
   C. $5000
   D. $1000

6. If the total liabilities of a business decrease by $5000 what will be the effect on total asset?

   (assuming the amount of capital remain same)

   A. Remain constant
   B. Decrease by $5000
   C. Increase by $5000
   D. Increase by $10,000

7. If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?

   A. $5000
   B. $10,000
   C. $15,000
   D. $20,000

8. Current assets – Current liabilities=?

   A. Capital
   B. Absorbed capital
   C. Net assets
   D. Net working capital

9. Assets-Liabilities=____________?

   A. Cash
   B. Equity
   C. Net income
   D. Net expenses

10. Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

    A. Business entity concept
    B. Money measurement concept
    C. Going concern concept
    D. Matching concept