Amongst the following statements, find the odd one out with regards to book keeping.
A. Book keeping has limited scope and concerned with recording, classifying & summarizing
B. Book keeping is essentially a clerical work
C. Book keeping depends on Accounting for making accounting records more useful
D. Book keeping only considers monetary transactions
E. Book keeping happens after the Accounting process
Answer: Option E
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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