Match the following
| List-I | List-II |
| a. The document from which the returns to suppliers are recorded is known as . . . . . . . . | 1. Assets |
| b. Wages paid on erection of a new machinery should be debited to . . . . . . . . | 2. Debit note |
| c. Prepaid expense is an item of . . . . . . . . | 3. Credit note |
| d. The receiver of goods returned will send a . . . . . . . . to the person, who return the goods. | 4. Machinery account |
A. a-2, b-1, c-4, d-3
B. a-4, b-1, c-2, d-3
C. a-2, b-4, c-1, d-3
D. a-4, b-3, c-1, d-2
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
Join The Discussion