Discount on issue of Shares Account until written off is shown under
A. 'Issued and Subscribed Capital' on the Liabilities side of the Balance Sheet
B. 'Reserve and Surplus' on Liabilities side of the Balance Sheet
C. 'Miscellaneous Expenditure' on Asset side of Balance Sheet
D. 'Profit and Loss Account' on the debit side
Answer: Option C
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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