Income earned but not received is called ____ ?
A. Outstanding asset
B. Real asset
C. Fictitious assets
D. Quick asset
ACCOUNTING MCQS
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Assets which come into existence upon the happening of a certain event are called ____ ?
A. Fictitious assets
B. Quick assets
C. Contingent assets
D. Fixed assets
Assets which have some market value are called ____?
A. Real assets
B. Fictitious assets
C. Fixed asset
D. Quick asset
Assets having physical existence are called ____ ?
A. intangible asset
B. Liquid asset
C. Current asset
D. Tangible asset
When owner withdraw cash for its private use, it is called _____ ?
A. Expense
B. Drawing
C. Profit
D. Income
For the business, capital is _____ ?
A. Liability
B. financial assets
C. Expense
D. None of these
Building and furniture are called ____ ?
A. Tangible asset
B. Fixed assets
C. Fictitious asset
D. Current asset
In support of business transaction, any written evidence is called ____ ?
A. Allowance
B. Price
C. Voucher
D. Discount
Concession received on the price of defective goods is called_____?
A. Cash discount
B. Trading discount
C. Discount
D. Allowance
Cash brought by the owner to start business is called ____ ?
A. Loan
B. Drawing
C. Capital
D. All of these