Match the items of list-I with those of list-II and check your answer:
| List-I | List-II |
| a. Accrued Interest | 1. Real Account |
| b. Special donation received for hockey tournament | 2. Income and expenditure |
| c. Football club | 3. Balance sheet |
| d. Patent Rights | 4. Personal Account |
A. a-2, b-3, c-4, d-1
B. a-3, b-2, c-4, d-1
C. a-4, b-3, c-2, d-1
D. a-1, b-2, c-3, d-4
Answer: Option A
This Question Belongs to Commerce >> Accounting
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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
the answer should be B