The debts which are to be repaid within a short period (a year or less) are referred to as, A) Current Liabilities B) Fixed liabilities C) Contingent liabilities D) All the above

The debts which are to be repaid within a short period (a year or less) are referred to as, A) Current Liabilities B) Fixed liabilities C) Contingent liabilities D) All the above
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Answer: A
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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

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

Contingent liabilities can also be called doubtful liabilities.

Description : Contingent liabilities can also be called doubtful liabilities.

Last Answer : State whether the following statement are true or false with reason : Contingent liabilities can also be called doubtful liabilities.

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Description : Liabilities represent the debts or obligations that a business must receive in terms of money.

Last Answer : State whether the following statement are true or false with reason : Liabilities represent the debts ... a business must receive in terms of money.

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Last Answer : Answer: Impairment of Assets

A ____________ liability is an uncertain liability. (a) Long term (b) Contingent (c) Current (d) Fixed

Description : A ____________ liability is an uncertain liability. (a) Long term (b) Contingent (c) Current (d) Fixed

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Description : A project whose acceptance precludes the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project. D. a contingent project.

Last Answer : A. a mutually exclusive project.

A project whose acceptance requires the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project E. none of the above

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Last Answer : A. a mutually exclusive project.

A project whose acceptance precludes the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project

Description : A project whose acceptance precludes the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project

Last Answer : C. a dependent project

A project whose acceptance requires the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project E. none of the above

Description : A project whose acceptance requires the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project E. none of the above

Last Answer : A. a mutually exclusive project.

A project whose acceptance precludes the acceptance of one or more alternative projects is referred to as . A. a mutually exclusive project. B. an independent project. C. a dependent project D. a contingent project

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Current liabilities a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity. c. are listed in the balance sheet, starting with accounts payable. d. should not include long-term debt that is expected to be paid within the next year.

Description : Current liabilities a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity. c. are listed in the balance sheet, ... . d. should not include long-term debt that is expected to be paid within the next year.

Last Answer : a. are obligations that the company is to pay within the forthcoming year. b. are listed in the balance sheet in order of their expected maturity.

The most important information needed to determine if companies can pay their current obligations is the a. net income for this year. b. projected net income for next year. c. relationship between current assets and current liabilities. d. relationship between short-term and long-term liabilities.

Description : The most important information needed to determine if companies can pay their current obligations is the a. net income for this year. b. projected net income for next year. c. ... between current assets and current liabilities. d. relationship between short-term and long-term liabilities.

Last Answer : c. relationship between current assets and current liabilities.

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Last Answer : Answer: Capital = Assets – Liabilities

Net working capital refers to A. total assets minus fixed assets B. current assets minus current liabilities C. current assets minus inventories D. current

Description : Net working capital refers to A. total assets minus fixed assets B. current assets minus current liabilities C. current assets minus inventories D. current

Last Answer : B. current assets minus current liabilities

To financial analysts, "working capital" means the same thing as . A. Total assets B. fixed assets C. current assets D. current assets minus current liabilities.

Description : To financial analysts, "working capital" means the same thing as . A. Total assets B. fixed assets C. current assets D. current assets minus current liabilities.

Last Answer : C. current assets

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

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

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

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Last Answer : A. Fixed assets must always be shown at market value

Working capital is expressed as------ a) Current asset-fixed asset b) Fixed assets-current liabilities c) Current assets-current liabilities d) None of these

Description : Working capital is expressed as------ a) Current asset-fixed asset b) Fixed assets-current liabilities c) Current assets-current liabilities d) None of these

Last Answer : c) Current assets-current liabilities

The asset, the amount of which can be realized within a period of one year are known as ---------------- a) Current liability b) Current asset c) Liquid liability d) Fixed asset

Description : The asset, the amount of which can be realized within a period of one year are known as ---------------- a) Current liability b) Current asset c) Liquid liability d) Fixed asset

Last Answer : b) Current asset

A set of complex and closely connected instructions, agents, practices, markets transactions, claims and liabilities relating to financial aspects of an economy is referred as: _____. a. Financial system b. Financial market c. Financial institution

Description : A set of complex and closely connected instructions, agents, practices, markets transactions, claims and liabilities relating to financial aspects of an economy is referred as: _____. a. Financial system b. Financial market c. Financial institution

Last Answer : a. Financial system

The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Description : The PPF account a) Cannot be attached any order or decree of court b) Is totally exempted from income tax c) In the event of the death of the depositor , the amount standing to his credit can be repaid to his nominee or legal heir even before expiry or 15 year d) All the above

Last Answer : d) All the above

Transactions with related parties are important to the auditors because they will be disclosed in the financial statements if material. Generally accepted accounting principles would not require disclosure of a. Loans to officers during the year which had been repaid before the balance sheet date. b. The nature of the related-party relationship. c. A description of transactions, including peso amounts. d. The amounts due from and to related parties

Description : Transactions with related parties are important to the auditors because they will be disclosed in the financial statements if material. Generally accepted accounting principles would not require disclosure of ... transactions, including peso amounts. d. The amounts due from and to related parties

Last Answer : Loans to officers during the year which had been repaid before the balance sheet date

Which of the following illustrates the use of a hedging approach to financing assets? A. Temporary current assets financed with long-term liabilities. B. Permanent working capital financed with long-term liabilities. C. Short-term assets financed with equity D. All assets financed with a mixture of 50% equity and 50% long-term debt

Description : Which of the following illustrates the use of a hedging approach to financing assets? A. Temporary current assets financed with long-term liabilities. B. Permanent working capital financed with long-term ... equity D. All assets financed with a mixture of 50% equity and 50% long-term debt

Last Answer : B. Permanent working capital financed with long-term liabilities.

Pick out the wrong statement. (A) Gross revenue is that total amount of capital received as a result of the sale of goods or service (B) Net revenue is the total profit remaining after deducting all costs excluding taxes (C) The ratio of immediately available cash to the total current liabilities is known as the cash ratio (D) Consolidated income statement based on a given time period indicates surplus capital and shows the relationship among total income, costs & profit over the time interval

Description : Pick out the wrong statement. (A) Gross revenue is that total amount of capital received as a result of the sale of goods or service (B) Net revenue is the total profit remaining ... indicates surplus capital and shows the relationship among total income, costs & profit over the time interval

Last Answer : (C) Working capital turnover ratio = sales/net working capital

Which of the following will improve a company's working capital management position? A. An increased level of bad debts B. An increase in the credit period allowed by suppliers C. An increased debtor collection period D. An increase in the stock turnover period E. An increase in the length of the production

Description : Which of the following will improve a company's working capital management position? A. An increased level of bad debts B. An increase in the credit period allowed by suppliers C. An increased debtor ... D. An increase in the stock turnover period E. An increase in the length of the production

Last Answer : B. An increase in the credit period allowed by suppliers

Under the Insolvency and Bankruptcy Code, 2016, debts owed to a secured creditor in the event such secured creditor has relinquished security ranks equally with ___________. a) insolvency resolution process costs b) workmen’s dues for a period of 24 months prior to liquidation commencement date c) wages and any unpaid dues owed to employees other than workmen for the period of twelve months preceding the liquidation commencement date d) dues to Central Government

Description : Under the Insolvency and Bankruptcy Code, 2016, debts owed to a secured creditor in the event such secured creditor has relinquished security ranks equally with ___________. a) insolvency ... period of twelve months preceding the liquidation commencement date d) dues to Central Government

Last Answer : b) workmen’s dues for a period of 24 months prior to liquidation commencement date

What loans will not be repaid in 2020?

Description : I would like to know what loans do not have to be repaid in connection with the coronavir payment moratorium?

Last Answer : The credit moratorium states, under a government decree, that you will not have to pay your monthly installments from March 19, 2020 to December 31, 2020. This deferral applies only to loans disbursed ... , including commodity loans, CSOKs, home loans, personal loans, baby loans, and even car loans.

repaid loan

Description : Hello, I got into a very bad situation when they repaid my loan and they want to pay the amount at once. Unfortunately, I don't have that much money, so they will solve it in court. It is no ... or if the bank has a collection department, where will they enforce it after me? It's an air bank.

Last Answer : just don't solve it with another loan! you'd better pay a hundred crowns extra, but don't take another loan under any circumstances. (tuxedo)

does a grant have to be repaid?

Description : does a grant have to be repaid?

Last Answer : does a grant have to be repaid

The commission on MO can be refunded if the a) MO is repaid to remitter b) MO is wrongly returned back to remitter c) The value of MO is defrauded d) The commission in no case be refunded

Description : The commission on MO can be refunded if the a) MO is repaid to remitter b) MO is wrongly returned back to remitter c) The value of MO is defrauded d) The commission in no case be refunded

Last Answer : d) The commission in no case be refunded

If a MO is repaid to the remitter, his signature should be obtained on a) Only in the MO receipt portion b) Both in the receipt and acknowledgment portion c) Only in the acknowledgement portion d) Only in postman book

Description : If a MO is repaid to the remitter, his signature should be obtained on a) Only in the MO receipt portion b) Both in the receipt and acknowledgment portion c) Only in the acknowledgement portion d) Only in postman book

Last Answer : a) Only in the MO receipt portion

What is working capital? a. The funds needed for the day to day running of the company b. The cash on hand at the end of the day c. Profits less current liabilities d. The amount of funds a company needs to run indefinitely e. Total sales less total expenses

Description : What is working capital? a. The funds needed for the day to day running of the company b. The cash on hand at the end of the day c. Profits less current liabilities d. The amount of funds a company needs to run indefinitely e. Total sales less total expenses

Last Answer : a. The funds needed for the day to day running of the company

Monetary items _________ (a) Are assets and liabilities to be received or paid in money (b) Are assets to be received in fixed or determinable amounts of money (c) Are money held and assets and liabilities to be received or paid in fixed or determinable amounts of money (d) None of the above

Description : Monetary items _________ (a) Are assets and liabilities to be received or paid in money (b) Are assets to be received in fixed or determinable amounts of money (c) Are money held and assets and ... to be received or paid in fixed or determinable amounts of money (d) None of the above

Last Answer : Are money held and assets and liabilities to be received or paid in fixed or determinable amounts of money

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

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

Net capital employed is equal to --------------- a) Total assets minus liabilities b) Fixed asset plus net working capital c) Total asset minus long-term liabilities d) Total assets

Description : Net capital employed is equal to --------------- a) Total assets minus liabilities b) Fixed asset plus net working capital c) Total asset minus long-term liabilities d) Total assets

Last Answer : b) Fixed asset plus net working capital

The relationship between total outside liabilities and total assets can be indicated through ------------ a) Fixed asset ratio b) Solvency ratio c) Fixed asset turn over ratio d) Proprietary ratio

Description : The relationship between total outside liabilities and total assets can be indicated through ------------ a) Fixed asset ratio b) Solvency ratio c) Fixed asset turn over ratio d) Proprietary ratio

Last Answer : b) Solvency ratio

How to Settle Debts for Less Than What You Owe?

Description : How to Settle Debts for Less Than What You Owe?

Last Answer : If you have an account with a creditor that is seriously delinquent, the creditor may agree to a debt settlement to pay off the account in full. You may approach the creditor with an offer ... your creditor accepts the settlement, you only have to pay the agreed-upon percentage of the debt.

Surplus earned by a factor other than land in the short period of referred to as- (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Description : Surplus earned by a factor other than land in the short period of referred to as- (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Last Answer : (3) quasi-rent Explanation: Quasi-rent is the surplus which is received in the short period because of demand exceeding the supply by the man made factors besides land. It is an analytical term ... opportunity cost is defined as the current income minus the income available in the next best use.

Surplus earned by a factor other than land in the short period of referred to as (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Description : Surplus earned by a factor other than land in the short period of referred to as (1) economic rent (2) net rent (3) quasi-rent (4) super-normal rent

Last Answer : quasi-rent

Collection of book debts----- a) Has no effect on current ratio b) Has decreased in current ratio c) Has increased in current ratio d) None of these

Description : Collection of book debts----- a) Has no effect on current ratio b) Has decreased in current ratio c) Has increased in current ratio d) None of these

Last Answer : a) Has no effect on current ratio

Which of the following statements relating to working capital financing is not correct? A. An aggressive policy uses long-term debt to finance fluctuating current assetsB. Long-term debt is less risky that short-term debt C. A conservative policy uses long-term debt to finance fixed assets D. Short-term debt is cheaper than long-term debt E. The matching principle indicates that fluctuating current assets should be financed by short-term debt

Description : Which of the following statements relating to working capital financing is not correct? A. An aggressive policy uses long-term debt to finance fluctuating current assets B. Long-term debt ... . The matching principle indicates that fluctuating current assets should be  financed by short-term debt

Last Answer : A. An aggressive policy uses long-term debt to finance fluctuating current assets

Closing entries are made a. in order to terminate the business as an operating entity. b. so that all assets, liabilities, and Stockholders' equity accounts will have zero balances when the next accounting period starts. c. in order to transfer net income (or loss) and dividends to the retained earnings account. d. so that financial statements can be prepared.

Description : Closing entries are made a. in order to terminate the business as an operating entity. b. so that all assets, liabilities, and Stockholders' equity accounts will have zero balances when the ... ) and dividends to the retained earnings account. d. so that financial statements can be prepared.

Last Answer : c. in order to transfer net income (or loss) and dividends to the retained earnings account. unt.

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.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.

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.

Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of payment is a source- and uses of funds statement that reflects changes in assets, liabilities and net worth during a specified period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Description : Which statement is true? 1) The balance of payments depends on the principle of double-entry accounting. 2) Decrease in assets and increase in liabilities of net worth represent credits or sources of funds. 3) The balance of ... period of time. A. Only 1 B. Only 2 C. Only 3 D. 1, 2 and 3

Last Answer : D. 1, 2 and 3

The drying time between fixed moisture contents within the 'constant rate period' is proportional to (assuming that drying occurs from all surfaces of the solid) (where, T = thickness of the solid). (A) √T (B) T (C) T 1.5 (D) T

Description : The drying time between fixed moisture contents within the 'constant rate period' is proportional to (assuming that drying occurs from all surfaces of the solid) (where, T = thickness of the solid). (A) √T (B) T (C) T 1.5 (D) T

Last Answer : (B) T

The drying time between fixed moisture content within diffusion controlled 'falling rate period' is proportional to (assuming that drying occurs from all surfaces of the solid) (where, T = thickness of the solid). (A) √T (B) T (C) T 2 (D) T

Description : The drying time between fixed moisture content within diffusion controlled 'falling rate period' is proportional to (assuming that drying occurs from all surfaces of the solid) (where, T = thickness of the solid). (A) √T (B) T (C) T 2 (D) T

Last Answer : (C) T

A person whose assets are less than business liabilities is known as insolvent.

Description : A person whose assets are less than business liabilities is known as insolvent.

Last Answer : State whether the following statement are true or false with reason : A person whose assets are less than business liabilities is known as insolvent.

The voltage control in electric supply networks in required on account of which of the following reasons ? (a) Adjustment of voltage at consumers premises within statutory limits (b) Control of active and reactive power (c) Adjustment of short period daily and seasonal voltage variations in accordance with variations of load (d) All of the above

Description : The voltage control in electric supply networks in required on account of which of the following reasons ? (a) Adjustment of voltage at consumers premises within statutory limits (b) Control of ... daily and seasonal voltage variations in accordance with variations of load (d) All of the above

Last Answer : (d) All of the above