Assets having physical existence are called ___________?

Related Mcqs:

1. 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

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

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

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

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

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

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

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. Assets-Liabilities=____________?

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

8. 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

9. 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

10. 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