Journals are also referred to as
A. Book of entries
B. Book of original entries
C. T account
D. Book of economic events
Answer: Option B
Solution(By Examveda Team)
Journals are also referred to as Book of original entries. The information in these books is then summarized and posted into a general ledger, from which financial statements are produced.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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