The assets which have some market value are called ____________?

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

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

3. Which of the following assets is/are to be valued at the lower of cost and net realizable value?

   A. Goodwill
   B. Inventories
   C. Investments
   D. Both B. and C. above.

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

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

5. Assets having physical existence are called ___________?

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

6. Assets-Liabilities=____________?

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

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

   A. Contingent assets
   B. Fixed assets
   C. Fictitious assets
   D. Quick assets

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

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

9. Payment of expenses will ______ the assets

   A. Increase
   B. Reduce
   C. apportion
   D. Overstate

10. The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?

    A. Depreciation
    B. Physical deterioration of the asset
    C. Decrease in market value of the asset
    D. Valuation of an asset at a point of time