Principles of Accounting Objective Type Questions

Question 1
Depreciation of assets is due to
A Decrease in value of goods
Hint:
Wear and tear of assets
B Wear and tear of assets
C Prices fluctuations
Hint:
Wear and tear of assets
D All of these
Hint:
Wear and tear of assets
Question 2
In which method depreciation is reduced year to year
A Straight line method
Hint:
Diminishing balance method
B Original cost method
Hint:
Diminishing balance method
C Diminishing balance method
D None of these
Hint:
Diminishing balance method
Question 3
The book value of a machine is Rs. 10,000 and it is sold for Rs. 11,000 and gain Rs. 1,000
A Capital profit
B Revenue profit
Hint:
Capital profit
C An expenditure
Hint:
Capital profit
D None of these
Hint:
Capital profit
Question 4
Maximum number of shareholders in a private limited company
A 20
Hint:
50
B 70
Hint:
50
C 50
D 10
Hint:
50
Question 5
The share issued at printed price is called
A Issued at discount
Hint:
Issued at par
B Issued at premium
Hint:
Issued at par
C Issued at par
D All of these are true
Hint:
Issued at par
Question 6
Artificial person created by law is called
A Combination
Hint:
Company
B Company
C Co-operative society
Hint:
Company
D Partnership
Hint:
Company
Question 7
Receipts and payments account shows
A Income and expenditure
Hint:
Cash receipts and payments
B Cash receipts and payments
C Assets and liabilities
Hint:
Cash receipts and payments
D Capital and revenue
Hint:
Cash receipts and payments
Question 8
Income and expenditure account reveals
A Cash in hand
Hint:
Surplus or deficiency
B Surplus or deficiency
C Capital account
Hint:
Surplus or deficiency
D Debtors account
Hint:
Surplus or deficiency
Question 9
Debtors account
A Incomplete and unscientific
B Complete and scientific
Hint:
Incomplete and unscientific
C Complete and unscientific
Hint:
Incomplete and unscientific
D Incomplete and scientific
Hint:
Incomplete and unscientific
Question 10
In single entry system, it is not possible to prepare
A Trial balance
B Balance sheet
Hint:
Trial balance
C Receipts and payments account
Hint:
Trial balance
D Personal account
Hint:
Trial balance
Question 11
The consignee acts entirely on behalf of
A Debtor
Hint:
Principal
B Creditor
Hint:
Principal
C Customer
Hint:
Principal
D Principal
Question 12
The total amount of capital of a company is divided into small units is ailed
A Bonds
Hint:
Shares
B Cheques
Hint:
Shares
C Shares
D Reserves
Hint:
Shares
Question 13
Non-trading concerns prepare
A Profit & loss account
Hint:
Income & expenditure account
B Manufacturing account
Hint:
Income & expenditure account
C Trading account
Hint:
Income & expenditure account
D Income & expenditure account
Question 14
Single entry system cannot be maintained by
A Sole owner
Hint:
Joint stock company
B Partnership
Hint:
Joint stock company
C Joint stock company
D All of these
Hint:
Joint stock company
Question 15
Under diminishing balance method depreciation is calculated on
A Original cost
Hint:
Written down value
B Written down value
C The scrap value
Hint:
Written down value
D Market value
Hint:
Written down value
Question 16
A company is formed by
A Owners
Hint:
Promoters
B Government
Hint:
Promoters
C Directors
Hint:
Promoters
D Promoters
Question 17
The face value of share is called
A Book value
Hint:
Par value
B Par value
C Market value
Hint:
Par value
D None of these
Hint:
Par value
Question 18
The written agreement of partnership is called
A Partnership deed
B Articles of association
Hint:
Partnership deed
C Memorandum of association
Hint:
Partnership deed
D Certificate of incorporation
Hint:
Partnership deed
Question 19
The persons who take the risk on the issue of shares are known as
A Directors
Hint:
Underwriters
B Promoters
Hint:
Underwriters
C Public
Hint:
Underwriters
D Underwriters
Question 20
Goodwill is due to
A Repute of partners
Hint:
All of these
B Management
Hint:
All of these
C Location
Hint:
All of these
D All of these
Question 21
Amount received from any source, by way of gift is treated as
A Subscription
Hint:
Donation
B Legacy
Hint:
Donation
C Donation
D None of these
Hint:
Donation
Question 22
Non-trading institutions prepare
A Profit & Loss A/c
Hint:
Income & expenditure A/c
B Manufacturing A/c
Hint:
Income & expenditure A/c
C Income & expenditure A/c
D None of these
Hint:
Income & expenditure A/c
Question 23
Receipts and payments account is
A Nominal account
Hint:
Real account
B Real account
C Personal account
Hint:
Real account
D An expense account
Hint:
Real account
Question 24
Goods sent on consignment should be debited by consignor to
A Consignment account
B Goods sent on consignment account
Hint:
Consignment account
C Consignor account
Hint:
Consignment account
D Consignee account
Hint:
Consignment account
Question 25
In the absence of an agreement, profits and losses are divided by partners is the ratio of
A Capital
Hint:
Equally
B Time devoted by each partner
Hint:
Equally
C Equally
D Their drawings
Hint:
Equally
Question 26
A new partner may be admitted to partnership
A With the consent of all the old partners
B Without the consent of old partners
Hint:
With the consent of all the old partners
C With the consent of any one of the partners
Hint:
With the consent of all the old partners
D With the consent of any two of the partners
Hint:
With the consent of all the old partners
Question 27
On the retirement of a partner, a reserve should be transferred to the capital accounts of
A All partners in old profit sharing ratio
B Remaining partners in new profit sharing ratio
Hint:
All partners in old profit sharing ratio
C Remaining partners in old profit sharing ratio
Hint:
All partners in old profit sharing ratio
D Neither the retiring partner nor the remaining partners
Hint:
All partners in old profit sharing ratio
Question 28
On the dissolution of firm, the partner's personal assets are first used for payment of
A Personal liabilities
Hint:
Third party liabilities
B Firm's liabilities
Hint:
Third party liabilities
C Third party liabilities
D None of these
Hint:
Third party liabilities
Question 29
Non-profit earning companies are mostly formed as
A Companies limited by shares
Hint:
Companies limited by guarantee
B Companies limited by guarantee
C Unlimited companies
Hint:
Companies limited by guarantee
D Private limited companies
Hint:
Companies limited by guarantee
Question 30
In case of private company maximum number of members is
A Six
Hint:
Fifty
B Ten
Hint:
Fifty
C Seven
Hint:
Fifty
D Fifty
Question 31
The gradual decrease in the value of the fixed assets due to its use in business is called
A Depreciation
B Depletion
Hint:
Depreciation
C Amortization
Hint:
Depreciation
D Fluctuation
Hint:
Depreciation
Question 32
The process of writing of intangible assets is called
A Depreciation
Hint:
Amortization
B Fluctuation
Hint:
Amortization
C Depletion
Hint:
Amortization
D Amortization
Question 33
A private company has to provide in its articles
A For restricting transfer of shares
Hint:
For prohibiting transfer of shares
B For prohibiting transfer of shares
C For permitting free transfer of shares
Hint:
For prohibiting transfer of shares
D None of these
Hint:
For prohibiting transfer of shares
Question 34
Debenture holders are
A Creditors
B Debtors
Hint:
Creditors
C Customers
Hint:
Creditors
D Debtors of the company
Hint:
Creditors
Question 35
The amount of depreciation charged on machinery will be debited to
A Machinery account
Hint:
Depreciation account
B Depreciation account
C Cash account
Hint:
Depreciation account
D Reserve account
Hint:
Depreciation account
Question 36
Sale of old newspapers should be treated as
A Income
B Expenses
Hint:
Income
C Asset
Hint:
Income
D Liability
Hint:
Income
Question 37
Consignor is also called
A Agent
Hint:
Principal
B Debtor
Hint:
Principal
C Creditor
Hint:
Principal
D Principal
Question 38
Godown rent paid by consignee is debited to
A Consignee's A/c
Hint:
Consignment A/c
B Consignor's A/c
Hint:
Consignment A/c
C Consignment A/c
D None of these
Hint:
Consignment A/c
Question 39
Income and expenditure account record the transaction
A Revenue nature
B Capital nature
Hint:
Revenue nature
C These both
Hint:
Revenue nature
D None of them
Hint:
Revenue nature
Question 40
Sinking fund investment is
A Asset
B Liability
Hint:
Asset
C Incomes
Hint:
Asset
D None of them
Hint:
Asset
Question 41
Discount on issue of shares is a loss of
A Revenue
Hint:
Capital
B None of them
Hint:
Capital
C Capital
D Expenditure
Hint:
Capital
Question 42
In the absence of agreement, the rate of interest on capital is
A Bank rate
Hint:
6%
B Not at all
Hint:
6%
C 6%
D None of these
Hint:
6%
Question 43
The asset not depreciable is
A Goodwill
Hint:
Land
B Land
C Patent
Hint:
Land
D Office equipment
Hint:
Land
Question 44
Old profit sharing ratio is 5:3 whereas on admission of third one, new ratio is 5:2:2. The sacrificing ratio
between two old partners will be
A 8:5
Hint:
5:11
B 5:8
Hint:
5:11
C 5:11
D 1 1 :5
Hint:
5:11
Question 45
In a private company, minimum directors should be
A 2
B 3
Hint:
2
C 4
Hint:
2
D More than 4
Hint:
2
Question 46
Partnership is formed under the Act of
A 1984
Hint:
1932
B 1913
Hint:
1932
C 1932
D 1962
Hint:
1932
Question 47
In Private Limited Company minimum numbers of share-holders are
A Six
B Seven
Hint:
Two
C Ten
Hint:
Two
D Two
Question 48
Assets contributed by the partner are recorded at
A Face value
Hint:
Agreed value
B Book value
Hint:
Agreed value
C Agreed value
D None of these
Hint:
Agreed value
Question 49
Income and expenditure account is prepared on
A Cash basis
Hint:
Accrual basis
B Accrual basis
C Both basis
Hint:
Accrual basis
D None of these
Hint:
Accrual basis
Question 50
Realization account is a
A Nominal A/C
B Real A/C
Hint:
Nominal A/C
C Personal A/C
Hint:
Nominal A/C
D Cash A/C
Hint:
Nominal A/C
Question 51
The activities of non-trading are managed by
A Director
Hint:
Member
B Member
C Governing Body
Hint:
Member
D Promoter
Hint:
Member
Question 52
Bad debts written off should be credited to
A Bad debts account
Hint:
Debtor account
B Creditor account
Hint:
Debtor account
C Debtor account
D Sale account
Hint:
Debtor account
Question 53
Del credere commission is calculated on
A Total sale
B Cash sale
Hint:
Total sale
C Credit sale
Hint:
Total sale
D None of these
Hint:
Total sale
Question 54
Memorandum of association is prepared by
A Sole proprietorship
Hint:
Joint stock company
B Partnership
Hint:
Joint stock company
C Joint stock company
D All of these
Hint:
Joint stock company
Question 55
In consignment relation between consignor and consignee is
A Debtor and creditor
Hint:
Principal and agent
B Buyer and seller
Hint:
Principal and agent
C Principal and agent
D All of these
Hint:
Principal and agent
Question 56
The minimum number of members in public limited company is
A 2
Hint:
7
B 7
C 10
Hint:
7
D 20
Hint:
7
Question 57
System in which accounting record is not kept strictly according to double entry system is
A Single entry system
B Double entry system
Hint:
Single entry system
C Original entry system
Hint:
Single entry system
D None of these
Hint:
Single entry system
Question 58
Due to fluctuation in the market price the value of an asset may
A Increase
Hint:
Not change
B Decrease
Hint:
Not change
C Not change
D All of these
Hint:
Not change
Question 59
Depreciation is provided for
A Replacement of the asset
Hint:
Both
B Calculation of true profit
Hint:
Both
C Both
D None of these
Hint:
Both
Question 60
In Pakistan, joint stock companies are formed, under ordinance of
A 1973
Hint:
1962
B 1990
Hint:
1962
C 1962
D 1984
Hint:
1962
Question 61
Liability of partners in partnership is
A Unlimited
B Limited
Hint:
Unlimited
C Up to their capital
Hint:
Unlimited
D None of these
Hint:
Unlimited
Question
62
For a firm, interest on capital is
A Income
Hint:
Expenses
B Expenses
C Asset
Hint:
Expenses
D None of these
Hint:
Expenses
Question 63
Loss by an accident is example of
A Normal loss
Hint:
Abnormal loss
B Normal loss and abnormal loss
Hint:
Abnormal loss
C Abnormal loss
D None of these
Hint:
Abnormal loss
Question 64
A prospectus can be issued only by
A A public limited company
B A private company
Hint:
A public limited company
C Partnership firm
Hint:
A public limited company
D None of these
Hint:
A public limited company
Question 65
Equity shareholders are of the company
A Creditors
Hint:
Owners
B Owners
C Customers
Hint:
Owners
D Debtors
Hint:
Owners
Question 66
Share application account is the nature of
A Real account
Hint:
Personal account
B Personal account
C Nominal account
Hint:
Personal account
D Income account
Hint:
Personal account
Question 67
Under straight line method of depreciation, it
A Increases every year
Hint:
Is constant every year
B Is constant every year
C Decreases every year
Hint:
Is constant every year
D None of these
Hint:
Is constant every year
Question 68
Statement of assets and liabilities prepared under single entry system is called
A Balance sheet
Hint:
Statement of affairs
B Profit & loss account
Hint:
Statement of affairs
C Statement of affairs
D Income statement
Hint:
Statement of affairs
Question 69
Trial balance is not obtained in
A Double entry system
Hint:
Single entry system
B Modern entry system
Hint:
Single entry system
C Single entry system
D None of these
Hint:
Single entry system
Question 70
The institutions which deal in, activities other than trade are called
A Trading concerns
Hint:
Non-trading concerns
B Manufacturing concerns
Hint:
Non-trading concerns
C Non-trading concerns
D None of these
Hint:
Non-trading concerns
Question 71
The figure of the credit purchase can be worked out
A Total debtor account
Hint:
Total creditor account
B Total creditor account
C Cash book
Hint:
Total creditor account
D Balance sheet
Hint:
Total creditor account
Question 72
The excess of total assets over total liabilities of a concern is called
A Surplus
Hint:
Capital fund
B Deficit
Hint:
Capital fund
C Capital fund
D Profit
Hint:
Capital fund
Question 73
Receipt and payment is a summary of
A Cash book
B Balance sheet
Hint:
Cash book
C Trial balance
Hint:
Cash book
D Profit and loss
Hint:
Cash book
Question 74
Cash paid to creditor can be worked out from
A Debtor a/c
B Creditor a/c
Hint:
Debtor a/c
C Balance sheet
Hint:
Debtor a/c
D None of these
Hint:
Debtor a/c
Question 75
Share Capital in the Balance Sheet is known as
A Asset
Hint:
Liabilities
B Liabilities
C Income
Hint:
Liabilities
D Reserve
Hint:
Liabilities
Question 76
The liability of the shareholder of a public limited company is
A Unlimited
Hint:
Limited
B Limited
C Compulsory
Hint:
Limited
D None of these
Hint:
Limited
Question 77
Joint Stock Company is an artificial person created by
A Law
B Federal Government
Hint:
Law
C Registrar
Hint:
Law
D None of these
Hint:
Law
Question 78
In the books of consignor, the balance of consignment stock account would be shown
A As an asset in balance sheet
B As a liability in balance sheet
Hint:
As an asset in balance sheet
C On credit side of trading account
Hint:
As an asset in balance sheet
D In profit and loss account
Hint:
As an asset in balance sheet
Question 79
In the books of consignee, the expenses incurred by him on consignment are debited to
A Consignment account
Hint:
Consignor's account
B Cash account
Hint:
Consignor's account
C Consignor's account
D Consignee's account
Hint:
Consignor's account
Question 80
In the absence of agreement, partners shall
A Be paid salaries
Hint:
Not be paid salaries
B Not be paid salaries
C Get more profit
Hint:
Not be paid salaries
D Equal salaries
Hint:
Not be paid salaries
Question 81
On the admission of a new partner, depreciation fund is transferred to
A Revaluation account
B Partner's capital accounts
Hint:
Revaluation account
C Cash account
Hint:
Revaluation account
D None of these
Hint:
Revaluation account
Question 82
On the retirement of a partner full goodwill is credited to the accounts of
A All partners
B Only the retiring partners
Hint:
All partners
C Only the remaining partners
Hint:
All partners
D Only the creditors
Hint:
All partners
Question 83
Unrecorded liability when paid on dissolution of a firm is debited to
A Realization account
B Partner's capital accounts
Hint:
Realization account
C Liability account
Hint:
Realization account
D None of these
Hint:
Realization account
Question 84
Outstanding subscription represents
A Asset
B Liability
Hint:
Asset
C Expense
Hint:
Asset
D Asset and expense
Hint:
Asset
Question 85
Donation received in advance is called
A Expense
Hint:
Liability
B Income
Hint:
Liability
C Liability
D Asset
Hint:
Liability
Question 86
If debit side of income and expenditure account is greater than credit side it represents
A Loss
Hint:
Deficit
B Profit
Hint:
Deficit
C Deficit
D Income
Hint:
Deficit
Question 87
Capital fund of non-trading concern is calculated
A Assets - Liabilities
B Liabilities - Assets
Hint:
Assets - Liabilities
C Liabilities + Assets
Hint:
Assets - Liabilities
D Expenditure - Income
Hint:
Assets - Liabilities
Question 88
Admission fee is called
A Expense
Hint:
Income
B Income
C Asset
Hint:
Income
D Liability
Hint:
Income
Question 89
Consignment account is prepared by
A Consignor
B Buyer
Hint:
Consignor
C Consignee
Hint:
Consignor
D Seller
Hint:
Consignor
Question 90
A remuneration paid by consignor to consignee for sale of goods is called
A Wages
Hint:
Commission
B Salary
Hint:
Commission
C Bonus
Hint:
Commission
D Commission
Question 91
Normal loss represents
A Routine loss
Hint:
All of these
B Natural loss
Hint:
All of these
C Unavoidable loss
Hint:
All of these
D All of these
Question 92
The consignee is also called
A Agent
B Debtor
Hint:
Agent
C Creditor
Hint:
Agent
D Owner
Hint:
Agent
Question 93
In partnership, number of partners should not exceed than
A 15
Hint:
20
B 20
C 30
Hint:
20
D 50
Hint:
20
Question 94
A partner who has not attained the age of maturity is called
A Junior partner
Hint:
Minor partner
B Senior partner
Hint:
Minor partner
C Minor partner
D Young partner
Hint:
Minor partner
Question 95
Partners contribution to the firm is called
A Share
Hint:
Capital
B Capital
C Debenture
Hint:
Capital
D Asset
Hint:
Capital
Question 96
A profit is distributed among shareholders is called
A Dividend
B Gift
Hint:
Dividend
C Remuneration
Hint:
Dividend
D Salary
Hint:
Dividend
Question 97
Depreciation is called
A Expense
B Income
Hint:
Expense
C Liability
Hint:
Expense
D Asset
Hint:
Expense
Question 98
Goodwill is an
A Asset
B Liability
Hint:
Asset
C Expense
Hint:
Asset
D Income
Hint:
Asset
Question 99
The liability of members of a company is generally
A Limited
B Unlimited
Hint:
Limited
C Contingent
Hint:
Limited
D Outstanding
Hint:
Limited
Question 100
The act of sending goods by owner to agent is called as
A Consignment
B Whole selling
Hint:
Consignment
C Retail selling
Hint:
Consignment
D Proprietorship
Hint:
Consignment
Question 101
Partners in, a partnership, collectively known as
A Partners
Hint:
Firm
B Firm
C Agents
Hint:
Firm
D Shareholders
Hint:
Firm
Question 102
Additional commission paid to a consignee who guarantees the payment in case of credit sale is called
A Bonus
Hint:
Del credere commission
B Commission
Hint:
Del credere commission
C Del credere commission
D Credit commission
Hint:
Del credere commission
Question 103
The powers of company are governed by
A Shareholders
Hint:
Memorandum of association
B Memorandum of association
C Prospectus
Hint:
Memorandum of association
D Articles of association
Hint:
Memorandum of association
Question 104
Institutions with activities other than trade are known as
A Manufacturing concerns
Hint:
Non-trading concerns
B Non-trading concerns
C Trading concerns
Hint:
Non-trading concerns
D Banking concerns
Hint:
Non-trading concerns
Question 105
Newly admitted partner in partnership is called
A Salaried partner
Hint:
Incoming partner
B Incoming partner
C Junior partner
Hint:
Incoming partner
D Minor partner
Hint:
Incoming partner
Question 106
For a firm, interest on capital is
A Income
Hint:
Expense
B Liability
Hint:
Expense
C Asset
Hint:
Expense
D Expense
Question 107
The assets having bodily substance are termed as
A Intangible assets
Hint:
Tangible assets
B Tangible assets
C Current assets
Hint:
Tangible assets
D Fictitious assets
Hint:
Tangible assets
Question 108
Depreciation on machinery will be debited to
A Machinery A/C
Hint:
Depreciation A/C
B Depreciation A/C
C Cash A/C
Hint:
Depreciation A/C
D None of them
Hint:
Depreciation A/C
Question 109
The directors of the company are
A Owners
Hint:
Employees
B Employees
C Debtors
Hint:
Employees
D Creditors
Hint:
Employees
Question 110
In absence of agreement the rate of interest on
A 6% p.a
B Bank rate
Hint:
6% p.a
C Not at all
Hint:
6% p.a
D None of them
Hint:
6% p.a
Question 111
Normal losses due to
A Avoidable
Hint:
Unavoidable
B Unavoidable
C Contingent
Hint:
Unavoidable
D None of them
Hint:
Unavoidable
Question 112
For the firm interest on capital
A Income
Hint:
Expense
B Asset
Hint:
Expense
C Expense
D Liability
Hint:
Expense
Question 113
Credit sale can be obtained by
A Cash book
Hint:
Debtors
B Debtors
C Creditors
Hint:
Debtors
D None of these
Hint:
Debtors
Question 114
Collectively partners are called
A Members
Hint:
Firm
B Firm
C Workers
Hint:
Firm
D None of them
Hint:
Firm
Question 115
Subscription received in advance is
A An income
B An asset
Hint:
An income
C A liability
Hint:
An income
D An expenditure
Hint:
An income
Question 116
Joint Stock Company is an artificial person created by
A Law
Hint:
Federal Government
B Federal Government
C Registrar
Hint:
Federal Government
D Employees
Hint:
Federal Government
Question 117
Sale of old newspaper should be treated as
A Income
B Expenditures
Hint:
Income
C Asset
Hint:
Income
D Liabilities
Hint:
Income
Question 118
Single entry system is a mixture of
A Single entry
Hint:
All these
B Double entry
Hint:
All these
C No entry
Hint:
All these
D All these
Question 119
In net worth method of single entry, net profit is ascertained by
A Preparing a trading
Hint:
Comparing opening and closing balances of capital
B Profit and loss account
Hint:
Comparing opening and closing balances of capital
C Comparing opening and closing balances of capital
D None of these
Hint:
Comparing opening and closing balances of capital
Question 120
Opening balance of capital is ascertained by preparing
A Cash account
Hint:
Opening statement of affairs
B Opening statement of affairs
C Total creditors account
Hint:
Opening statement of affairs
D Capital account
Hint:
Opening statement of affairs
Question 121
In accounting, consignment signifies
A Goods forwarded by a person to another
Hint:
Goods forwarded by owner to his agent for the purpose of sale
B Goods forwarded from one place to another
Hint:
Goods forwarded by owner to his agent for the purpose of sale
C Goods forwarded by owner to his agent for the purpose of sale
D None of these
Hint:
Goods forwarded by owner to his agent for the purpose of sale
Question 122
In single entry it is not possible to prepare
A Trial balance
B Trading account
Hint:
Trial balance
C Profit and loss account
Hint:
Trial balance
D Balance sheet
Hint:
Trial balance
Question 123
Consignment account is in the nature of
A Real account
Hint:
Nominal account
B Nominal account
C Personal account
Hint:
Nominal account
D None of these
Hint:
Nominal account
Question 124
A partner goes out of a firm due to certain event is known as
A Outgoing partner
B Junior partner
Hint:
Outgoing partner
C Senior partner
Hint:
Outgoing partner
D Minor partner
Hint:
Outgoing partner
Question 125
Object of partnership is
A To earn profit
B Not to earn profit
Hint:
To earn profit
C The welfare of public
Hint:
To earn profit
D None of these
Hint:
To earn profit
Question 126
A prospectus can be issued only by
A A public company
B A private company
Hint:
A public company
C Partnership firm
Hint:
A public company
D None of these
Hint:
A public company
Question 127
An ordinary partnership firm cannot have
A Less than 7
Hint:
Less than 2
B Less than 2
C Less than 10
Hint:
Less than 2
D Less than 20
Hint:
Less than 2
Question 128
Fixed asset is a
A Cash
Hint:
Building
B Building
C Investment
Hint:
Building
D None of them
Hint:
Building
Question 129
Outstanding rent is
A Asset
Hint:
Liability
B Liability
C Income by preparing
Hint:
Liability
D None of them
Hint:
Liability