ACCOUNTANCY
Authored by Sonam Arora
Other
11th Grade
Used 1K+ times
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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
If the capital of a business is ₹ 5,00,000 and outside liabilities are ₹200,000. Calculate total assets of the business.
3,00,000
7,00,000
10,00,000
2,50,000
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Amount which the proprietor has invested in a business is known as ......
Capital
Liability
Asset
Expenses
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Amount which the firm owes to outsiders is known as.....
Capital
Expenses
Liability
Asset
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Current Liabilities include:
Bills Payable
Creditors
Outstanding Expenses
All of the above
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Assets held for continued use in the business and not meant for resale are termed as..........
Fixed asset
Current Asset
Tangible asset
Intangible Asset
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
.......... are those assets which have a physical existence and which can be seen or felt.
Current Asset
Wasteful Asset
Intangible Asset
Tangible Asset
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Amount withdrawn by the owner for personal use......
Capital
Asset
Drawings
Liability
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