Which of the following are current assets of a business?

A. I. income received in advance
B. Ii. stock
C. Iii. debtors
D. Iv. pre-paid expenses

Which of the following is not a contingent liability?

A. Debts included in sundry debtors which are doubtful in nature
B. Uncalled liability on partly paid shares
C. Claims against the company not acknowledged as debts
D. Arrears of fixed cumulative dividend

Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

A. Business entity concept
B. Money measurement concept
C. Going concern concept
D. Matching concept

Which of the following is a current liability?

A. Prepaid expenses
B. Trademark
C. Discount on issue of shares
D. Outstanding salaries

Which of the following is not an intangible asset?

A. Trade mark
B. Franchise
C. Accounts receivable
D. Secret profit

Computers taken on hire by a business for a period of twelve months should be classified as:___________?

A. Current assets
B. Intangible assets
C. Deferred revenue expenditure
D. Not an asset

Which of the following accounts appear(s) in the Balance Sheet of a business?

A. I. stock at the end of the financial year
B. Ii. stock at the beginning of the financial year
C. Iii. drawings
D. Iv. prepaid rent

The Balance Sheet gives information regarding the____________?

A. Results of operations for a particular period
B. Financial position during a particular period
C. Profit earning capacity for a particular period
D. Financial position as on a particular date

Which of the following statements is false ? select the false from below options

A. Balance sheet discloses financial position of the business
B. A person who owes to the business is called debtor
C. Decrease in the value of the asset could decrease the value of a liability
D. Assets are to be shown in the balance sheet at the realizable value

Tax deducted at source appears in the Balance Sheet

A. On the assets side under current assets
B. On the assets side under loans and advances
C. On the liabilities side under current liabilities
D. On the liabilities side under provisions