Which type of asset class includes those assets which have only definite use and become valueless when the yield is over?
A. Fixed asset
B. Current asset
C. Fictitious asset
D. Wasting asset
Answer: Option D
A. Fixed asset
B. Current asset
C. Fictitious asset
D. Wasting asset
Answer: Option D
A. Expenditure for the business
B. Cost for the business
C. Gain for the business
D. None of the above
Which of these items would be accounted for as an expense?
A. Repayment of bank loan
B. Dividend to stock holders
C. The purchase of land
D. Payment of current period rent
Debit the receiver credit the giver rule for:
A. Real a/c
B. Personal a/c
C. Nominal a/c
D. None of these
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