Principles of Accounting

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

8 years ago

The excess of current assets over current liabilities is called:

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

8 years ago

The systems of accounting are _____________?

A. Two B. Three C. Five D. Six (more…)

8 years ago

A systematic way to maintain the books of accounts is called_________?

A. Accountancy B. Economics C. Book Keeping D. Auditing

8 years ago

An Art of reading, classifying & Summarizing of accounts in a systematic way is called__________?

A. Accounting B. Accountancy C. Auditing D. Book Keeping

8 years ago

The concession received on the price of defective goods is called:

A. Discount B. Cash discount C. Allowance D. Trading discount

8 years ago

The maintenance of accounts in a systematic way is called__________?

A. Accounting B. Reading C. Book Keeping D. Auditing

8 years ago

In support of business transaction, any written evidence is called ___________?

A. Discount B. Voucher C. Allowance D. Price

8 years ago

Building and furniture are called ____________?

A. Current asset B. Fictitious asset C. Tangible asset D. Fixed assets

8 years ago

For the business, capital is ____________?

A. Expense B. Liability C. Assets D. All of them

8 years ago
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