Match the items of a company given in List-A with the classification given in List-B and check your answer:
| List-A | List-B |
| a. Preliminary Expenses | 1. Miscellanneous Expenditure |
| b. Unclaimed Dividend | 2. Loans and Advances |
| c. Bills receivable | 3. Current liability |
| d. Live Stock | 4. Fixed assets |
A. a-1, b-2, c-4, d-3
B. a-2, b-3, c-4, d-1
C. a-1, b-3, c-2, d-4
D. a-4, b-1, c-3, 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
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