Match List-I with List-II and select the correct answer using the options given below the lists:
| List-I | List-II |
| a. Amortisation | 1. Diminition in the life of the assets due to excessive use |
| b. Depreciation | 2. Exhaustion of natural resource |
| c. Depletion | 3. Expiration of tangible assets |
| d. Obsolescence | 4. Expiration of intangible assets |
| 5. Economic deterioration due to improved inventions |
A. a-1, b-2, c-3, d-4
B. a-1, b-2, c-4, d-5
C. a-5, b-2, c-3, d-4
D. a-4, b-3, c-2, d-5
Answer: Option D
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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