Description : Which of the following is not included in the category of 'Intangible Assets' ? A. Patents rights B. Copy rights C. Competitive benefit and privileges D. Machinery
Last Answer : D. Machinery
Description : Which of the following is incorrect? a) Good will intangible asset b) Sundry debtors -current asset c) Loose tools tangible fixed asset d) Outstanding expenses -current asset.
Last Answer : d) Outstanding expenses -current asset.
Description : Goodwill, Copyright and Trademarks should be classified as– (A) Tangible assets (B) Intangible assets (C) Current assets (D) Fictitious assets
Last Answer : Answer: Intangible assets
Description : Individuals hold their claims on real assets through ____________ in a well-developed economy. a) intangible assets b) tangible assets c) real estate d) financial assets
Last Answer : d) financial assets
Description : Patents and copyrights fall under the category of 1. Current assets 2. Liquid assets 3. Intangible assets 4. Nominal assets 5. None of these
Last Answer : Intangible assets
Description : Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 andinvestments are Rs.4,00,000. Then the current liabilities recorded in balance sheet will be a) 2,00,000 b) 1,00,000 c) 3,00,000 d) 4,00,000
Last Answer : b) 1,00,000
Description : Which of the following statement is correct? A. Fixed assets must always be shown at market value B. Book-keeping and accounting are different terms C. Owner's Equity = Assets + Liabilities D. Patents is an example of current asset
Last Answer : A. Fixed assets must always be shown at market value
Description : The assets of a business can be classified as A. Only fixed assets B. Only current assets C. Fixed and current assets D. None of the above
Last Answer : C. Fixed and current assets
Description : Copyrights, Patents and Trademarks are, A) Current assets B) Fixed assets C) Intangible assets D) Investments
Last Answer : Answer: C
Description : The assets that can be easily converted into cash within a short period, i.e., 1 year or less are known as A) Current assets B) Fixed assets C) Intangible assets D) Investments
Last Answer : Answer: A
Description : Long term assets having no physical existence but, possessing a value are called A) Intangible assets B) Fixed assets C) Current assets D) Investments
Description : Fixed assets are held by business for _____ a) Converting into cash b) Generating revenue c) Resale d) None of the above
Last Answer : b) Generating revenue
Description : Which of the following is not deferred revenue expenditure? A. Heavy advertisement expenditure. B. Expenses incurred in removing the business to more convenient premises. C. Preliminary expenses. D. Depreciation on fixed assets.
Last Answer : D. Depreciation on fixed assets.
Description : Which of the following assets are dealt with by AS - 10 (Accounting Standard on Fixed Assets)? A. Land, building, plant and machinery, vehicles, furniture and fittings B. Goodwill and patents C. Trademarks and designs D. All of the above
Last Answer : D. All of the above
Description : AS -10 (Accounting Standard on Fixed Assets) does not deal with accounting for the following items to which special considerations apply A. Forests, plantations and similar regenerative natural ... resources C. Expenditure on real estate development and livestock D. None of the above
Last Answer : D. None of the above
Description : Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit
Last Answer : D. Out of free reserves built out of genuine profit
Description : Which one of the following is an example of sources of funds? A. Decrease in share capital B. Increase in long-term liabilities C. Decrease in long-term liabilities D. Increase in fixed assets
Last Answer : B. Increase in long-term liabilities
Description : The Amalgamation Adjustment Account appears in the books, it is shown under the heading of ......... in the balance sheet. (A)Reserve and Surplus (B)Fixed Assets (C)Investments (D)Miscellaneous expenditure
Last Answer : (D)Miscellaneous expenditure
Description : While calculating purchase price, the following values of assets are considered (A)Book value (B)New values fixed (C)Average values (D)Market values
Last Answer : (B)New values fixed
Description : Liabilities are generally classified on a balance sheet as a. small liabilities and large liabilities. b. present liabilities and future liabilities. c. tangible liabilities and intangible liabilities. d. current liabilities and long-term liabilities.
Last Answer : d. current liabilities and long-term liabilities.
Description : Which of the following is not included in the assumption on which Myron Gorden proposed a model on Stock valuation A. Retained earning the only source of financing B. Finite Life of the firm C. Taxes do not exist D. Constant rate of return on firms investment.
Last Answer : B. Finite Life of the firm
Description : ________ do not give the returns during the same period during which they are paid for A. Intangible assets B. Fixed assets C. Both (A) and (B) D. None of the above
Last Answer : B. Fixed assets
Description : Fair value of Tangible fixed assets acquired in exchange of share shall be at its…………….. a) Actual cost b) Market Price c) Actual cost less expenses of exchange d) Market price less expenses of exchange
Last Answer : a) Actual cost
Description : Unpaid calls are shown in the balance sheet of a company A. By adding it to the share capital B. By deducting it from the called-up share capital C. Under the head 'current assets' D. Under the head 'curent liabilities'
Last Answer : B. By deducting it from the called-up share capital
Description : How can you contribute to the preservation of intangible and tangible forms f culture?
Last Answer : Need answer
Description : Project Management focuses on _____ goals. (A) targeted (B) long-term (C) tangible (D) intangible
Last Answer : (A) targeted
Description : Portfolio Management focuses on _____ goals. (A) targeted (B) long-term (C) tangible (D) intangible
Last Answer : (B) long-term
Description : Business Value = (A) Tangible Elements (B) Intangible Elements (C) Tangible Elements – Intangible Elements (D) Tangible Elements + Intangible Elements
Last Answer : (D) Tangible Elements + Intangible Elements
Description : . Business Value = (A) Tangible Elements (B) Intangible Elements (C) Tangible Elements – Intangible Elements (D) Tangible Elements + Intangible Elements
Description : Costs that are not directly related to the products or services of the project, but are indirectly related to performing the project. A. Intangible Costs B. Sunk Cost C. Tangible Costs D. Indirect Costs
Last Answer : D. Indirect Costs
Description : Which of the following accurately categorizes the Machines an Organization uses ? A. Tangible, Financial Resources B. Intangible, Financial Resources C. Tangible, Intellectual Capital D. Tangible, Physical Resources
Last Answer : Tangible, Physical Resources
Description : It is difficult to measure the morale of the sales team directly because 1. It is a tangible state 2. It is an intangible state 3. Employees hide the truth 4. All the above 5. None of these
Last Answer : It is an intangible state
Description : It is difficult to measure the morale of the sales team directly because 1. It is a tangible state 2. It is an intangible state 3. Employees hide the truth 4. All of the above 5. None of the above
Description : An intangible asset a. does not have physical substance, yet often is very valuable. b. is worthless because it has no physical substance. c. is converted into a tangible asset during the operating cycle. d. cannot be classified on the balance sheet because it lacks physical substance.
Last Answer : a. does not have physical substance, yet often is very valuable.
Description : Many companies are moving to a new level in creating value for their customers. They are developing and deliveri are developing and delivering total customer experi ng total customer experiences. Whereas ... _____. a. product quality b. memorable memorable c. unsought product d. internal marketing
Last Answer : b. memorable memorable
Description : Goodwill is an ______ asset. A Intangible B Tangible C Asset D Liability
Last Answer : Intangible
Description : Increased volume of sales is an example of ………….…. Benefit. Reduction of bad debts is an example of ……….. A) Tangible, Intangible B) Tangible, Tangible C) Intangible, Tangible D) Intangible, Intangible
Last Answer : D) Intangible, Intangible
Description : A Bank supplies products that fall primarily at which of the following points on the tangibility continuum? A) Totally tangible B) Tangibly dominant C) Neutral D) Intangibly dominant E) Totally intangible
Last Answer : D) Intangibly dominant
Description : Intangible assets are a. listed under current assets on the balance sheet. b. not listed on the balance sheet because they do not have physical substance. c. noncurrent resources. d. listed as a long-term investment on the balance sheet.
Last Answer : Intangible assets are a. listed under current assets on the balance sheet. b. not listed on the balance sheet because they do not have physical substance. c. noncurrent resources. d. listed as a long-term investment on the balance sheet.
Description : Matching concept means A] Assets = capital + liabilities B] Transactions recorded at accrual concept C] Anticipate no profit but recognize all losses D] Expenses should be matched with the revenue of the period.
Last Answer : D] Expenses should be matched with the revenue of the period.
Description : An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-What would be the effect on the total asset and total liabilities in the ... and liabilities increased by Rs.800000 D] Assets increased by Rs.800000 and liabilities increased by Rs.800000
Last Answer : D] Assets increased by Rs.800000 and liabilities increased by Rs.800000
Description : As per the Matching concept, Revenue –? = Profit a) Expenses b) Liabilities c) Losses d) Assets
Last Answer : a) Expenses
Description : Consistency with reference to application of accounting procedures means a) All companies in the same Industry should use identical accounting procedures b) Income & assets have not been overstated c ... uniform basis year after year d) Any accounting method can be followed as per convenience
Last Answer : c)Accounting methods & procedures shall be followed uniform basis year after year
Description : In income measurement & recognisation of assets & liabilities which of the following concepts goes together ? (a) Periodicity, Accural, Matching (b) Cost, Accural, matching (c) Going concern, cost, Realization (d) Going concern, Periodicity, Reliability
Last Answer : (a) Periodicity, Accural, Matching
Description : Money spent to acquire or upgrade physical assets is known as: A. Revenue Expense B. Capital Expense C. Administrative Expense D. Operating Expense
Last Answer : B. Capital Expense
Description : When the purchasing company makes payment of the purchase consideration, it debits: A. Business purchase account B. Assets account C. Vendor company's account. D. Realisation A/c
Last Answer : C. Vendor company's account.
Description : Which of the following cannot be treated as revenue expenditure? A. Cost of goods purchased for resale. B. Wages paid for the erection of plant and machinery. C. Obsolescence cost. D. Expenses incurred by way of repairs of existing assets which do not in any way add to their earning capacity.
Last Answer : B. Wages paid for the erection of plant and machinery.
Description : Amalgamate adjustment account is opened in the books of transferee company to incorporate: A. The assets of the transferor company B. The liabilities of the transferor company C. The statutory reserves of the transferor company D. The non – statutory reserves of the transferor company
Last Answer : C. The statutory reserves of the transferor company
Description : Amalgamation is said to be in the nature of merger if: A. All assets and liabilities of transferor company are taken over by the transferee company. B. Business of transferor company is intended to ... paid in equity shares by the transferee company except for fraction shares. D. All of the above
Description : The fundamental accounting equation' Assets = Liabilities + Capital' is the formal expression of A. Dual aspect concept B. Matching concept C. Going concern concept D. Money measurement concept
Last Answer : A. Dual aspect concept