Aseets having definite shape and physical existensce are called……….

Related MCQs

• If two or more transactions of the same nature are journalize together having either the debit or credit account common is known as:
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• Income and Expenditure account shows subscription at 2,50,000. Subscriptions accrued in the beginning of the year and at the end of the year were 25,000 and 37,500 respectively. The amount of subscriptions received appearing in re ceipts and payments account will be
• A cash book with discount and bank column is called as
• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?
• The process of transfer of entries from day book to ledger is called as
• Writing of the transactions in the ledger is called……………………
• Assets acquired for long use in the business are called ………………….
• Assets acquired for short term use in the business are called……………..
• Assets which get exhausted to the extent of extraction are called ……….