Corporate Accounting MCQs and Notes

M

Mr. Dubey • 52.52K Points
Coach

Q 761. The assets that can be easily converted into cash within a short period (i.e., 1 year or less is known as,

(A) Current assets

(B) Fixed assets

(C) Intangible assets

(D) Investments

M

Mr. Dubey • 52.52K Points
Coach

Q 762. Which of these best explains fixed assets?

(A) Are bought to be used in the business.

(B) Are expensive items bought for the business

(C) Are items which will not wear out quickly

(D) Are of long life and are not purchased specifically for resale

M

Mr. Dubey • 52.52K Points
Coach

Q 763. The long term assets that have no physical existence but, possess a value is known as,

(A) Current assets

(B) Fixed assets

(C) Intangible assets

(D) Investments

M

Mr. Dubey • 52.52K Points
Coach

Q 764. The process of recording financial data up to trial balance is

(A) Book keeping

(B) Classifying

(C) Summarizing

(D) Analyzing

M

Mr. Dubey • 52.52K Points
Coach

Q 765. International Public Sector Accounting Standards were issued by

(A) International Accounting Standards Board.

(B) International Auditing Practices Committee.

(C) International Federation of Accountants.

(D) None of the above