The accrued income or outstanding income will appear in the
The accrued income or outstanding income will appear in the balance sheet as:
both a, b | |
an asset | |
an expense | |
a liability |
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A prepaid expense is:
A prepaid expense is:
a liability | |
an income | |
an asset | |
an expense |
The revenue that has not become due, but received in cash in
The revenue that has not become due, but received in cash in current year is known as:
both a, c | |
revenue received in advance | |
unearned income | |
accrued income |
An income which has earned but not received is called:
An income which has earned but not received is called:
revenue received in advance | |
accrued income | |
none of these | |
unearned income |
All those expenses which have not become due but paid in adv
All those expenses which have not become due but paid in advance are called:
accrued expenses | |
prepaid expenses | |
payable expenses | |
outstanding expenses |
All those expenses which have become due but not paid are ca
All those expenses which have become due but not paid are called:
prepaid revenue | |
advance expenses | |
outstanding expenses | |
accrued revenue |
The system of accounting in which accounting entries are mad
The system of accounting in which accounting entries are made only when cash received or paid is known as:
single system | |
accrual system | |
cash system | |
mercantile system |
Net profit or loss is determined through:
Net profit or loss is determined through:
Balance sheet | |
Profit & Loss Account | |
None of these | |
Trading Account |
A gradual decrease in the value of intangible assets is call
A gradual decrease in the value of intangible assets is called:
depreciation | |
amortization | |
Depletion | |
all these |
Unpaid expenses are considered:
Unpaid expenses are considered:
Capital | |
Asset | |
Liability | |
Income |
Unearned income is shown as:
Unearned income is shown as:
Expenses | |
Liabilities | |
Income | |
Assets |
Land and buildings to start business are called as:
Land and buildings to start business are called as:
Expenses | |
Capital | |
Incomes | |
Assets |
Loan from bank is:
Loan from bank is:
Income | |
An expense | |
An asset | |
None of these |
Claims against assets are called:
Claims against assets are called:
Equities | |
Capital | |
Assets | |
Liabilities |
Real accounts are related to:
Real accounts are related to:
None of these | |
Customers, creditors etc. | |
Assets and liabilities | |
Expenses, losses and income |
The excess of assets over liabilities is called:
The excess of assets over liabilities is called:
Income | |
Profit | |
Loss | |
Capital |
Assets normally show balance:
Assets normally show balance:
debit | |
Debit & credit | |
zero | |
Credit |
Assets, which have physical existence, are called:
Assets, which have physical existence, are called:
quick assets | |
current assets | |
tangible assets | |
intangible assets |
Gross profit is credited to:
Gross profit is credited to:
none of these | |
trading account | |
balance sheet | |
profit or loss account |
If the profit is 25% of cost price then it is of what percen
If the profit is 25% of cost price then it is of what percentage of sale price:
33-1/3% | |
20% | |
66- 1/3% | |
25% |