Allocation means:
A. Allotment of the whole item without division to a particular department
B. Allotment is the distribution of proportionate items of cost
C. It is a suitable basis for sub-division of the cost by cost centres
D. Allocation and appropriation are both more or less same
E. Products, departments or machineries are the basis on which allocation is usually made
Answer: Option A
This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be 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
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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