X and Y sharing profits in the ratio of 7 : 3, admit Z for $${\frac{3}{7}^{{\text{th}}}}$$ share in the new firm in which he takes $${\frac{2}{7}^{{\text{th}}}}$$ from X and $${\frac{1}{7}^{{\text{th}}}}$$ form Y. The new ratio of X, Y and Z will be

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