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

Related Mcqs:

1. Assets having physical existence are called ___________?

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

2. 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

3. An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?

   A. Accounting
   B. Accountancy
   C. Auditing
   D. Book Keeping

4. The maintenance of accounts in a systematic way is called__________?

   A. Accounting
   B. Reading
   C. Book Keeping
   D. Auditing

5. Cash brought by the owner to start business is called__________?

   A. Capital
   B. Loan
   C. Drawing
   D. None of these

6. Keeping the log of financial information in books of original entries is called__________?

   A. Recording
   B. summarizing
   C. Grouping
   D. Processing

7. An entry which is made on both sides of a cash book is called__________?

   A. Cash entry
   B. Contra entry
   C. Payment entry
   D. Compound entry

8. The excess of current assets over current liabilities is called:

   A. Working Capital
   B. Circulating capital
   C. Fixed capital
   D. Trading capital

9. The assets which have some market value are called ____________?

   A. Fixed asset
   B. Quick asset
   C. Fictitious assets
   D. Real assets

10. In accounting an Economic event is referred to as:

    A. Cash
    B. Bank statement
    C. Transaction
    D. Exchange of money