Which is the most important characteristic that all assets of a business have?

Related Mcqs:

1. 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

2. Which of the following are current assets of a business?

   i. Income received in advance
   ii. Stock
   iii. Debtors
   iv. Pre-paid expenses
   v. Accrued income

   A. Both (i) and (iv) above
   B. Both (ii) and (iii) above
   C. (i),(ii) and (iii) above
   D. (ii),(iii),(iv) and (v) above

3. Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?

   A. Drawings
   B. Cash
   C. Business
   D. Stock

4. Assets having physical existence are called ___________?

   A. Current asset
   B. intangible asset
   C. Tangible asset
   D. Liquid asset

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

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

6. 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

7. Current assets – Current liabilities=?

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

8. Assets-Liabilities=____________?

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

9. Any gain on the sale of non-current assets should be _________ from the net profit and the loss must be _________to the net profit in determining fund from operation?

   A. Added, Reduced
   B. Added, Added
   C. Deducted, Added
   D. Deducted, Deducted

10. Short term Assets expected to be converted into cash within 1 year or less than?

    A. Current Assets
    B. Fixed Assets
    C. Current Assets& current liabilities
    D. All of the above

    Submitted by: Maneesh Kumar