Match the following
| List I | List II |
| a. Revenue means the income of a . . . . . . . . nature. | 1. Fixed assets |
| b. Premium paid on the life insurance policy of the proprietor will be debited to . . . . . . . . account. | 2. Regular |
| c. Going concern concept is relevant for . . . . . . . . | 3. Matching |
| d. Recognition of cost in the same period as associated revenues is called . . . . . . . . principle. | 4. Drawings |
A. a-4, b-3, c-2, d-1
B. a-2, b-3, c-4, d-1
C. a-2, b-1, c-4, d-3
D. a-2, b-4, c-1, d-3
Answer: Option B
This Question Belongs to Commerce >> Accounting
Join The Discussion
Comments (1)
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
Option D is correct