| 1 |
Assets having some market value |
- A. Fictitious Assets
- B. Real Assets
- C. Unreal Assets
- D. None of these
|
| 2 |
Gross profit is derived from |
- A. Trading a/c
- B. Profit & Loss a/c
- C. Trial Balance
- D. Balance Sheet
|
| 3 |
Goodwill, patent, copyright are classified as |
- A. Current Assets
- B. Fixed Assets
- C. Tangible Assets
- D. Wasting Assets
|
| 4 |
Assets come into existence upon the happening of a certain event, are called: |
- A. Fixed assets
- B. Fictitious assets
- C. Floating assets
- D. Contingent assets
|
| 5 |
Rent account' is a kind of: |
- A. Real account
- B. Personal account
- C. Nominal account
- D. <div>Capital account</div>
|
| 6 |
Office rent is a |
- A. Financial Expense
- B. Abnormal Loss
- C. Management Expense
- D. Maintenance Expense
|
| 7 |
Gross profit represents |
- A. Opening stock + purchases
- B. closing stock + direct expenses - sales
- C. closing stock-purchases-direct expenses + sales
- D. purchases - sales
|
| 8 |
The concession given by the supplier to the buyer on purchases of good is known as: |
- A. Sales discount
- B. Trade discount
- C. Purchase discount
- D. Discount received
|
| 9 |
From business point of view, interest on capital is considered as |
- A. An income
- B. An Expense
- C. A Profit
- D. A Liability
|
| 10 |
The person to whom a bill is addressed is the: |
- A. Debtor
- B. Creditor
- C. Holder
- D. Agent
|
