Accounting Quiz 03

The assets which come into existence upon the happening of a certain event are called__________?

Fixed assets

Fictitious assets

Contingent assets

Quick assets

Correct! Wrong!

For the business, capital is ____________?

Assets

Liability

All of them

Expense

Correct! Wrong!

A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?

Compensating error

Error of commission

Error of principle

Error of omission

Correct! Wrong!

When owner withdraw cash for its private use, it is called ___________?

Drawing

Profit

Income

Expense

Correct! Wrong!

The unsold goods are ______________?

Equity

Inventory

Sale return

Purchases

Correct! Wrong!

The systems of accounting are _____________?

Five

Two

Three

Six

Correct! Wrong!

The assets which have some market value are called ____________?

Fixed assets

Real assets

Big assets

Quick assets

Correct! Wrong!

Assets having physical existence are called ___________?

Current asset

Liquid asset

Tangible asset

Intangible asset

Correct! Wrong!

Debts which are payable in the course of a month are called _____________?

Current liabilities

Liquid Liabilities

Fixed liabilities

External liabilities

Correct! Wrong!

Income earned but not received is called ____________?

Outstanding asset

Real asset

Fictitious assets

Quick asset

Correct! Wrong!

Accounting Quiz 03

Well Done !

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Accounting Quiz 03

The assets which come into existence upon the happening of a certain event are called__________?

For the business, capital is ____________?

A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?

When owner withdraw cash for its private use, it is called ___________?

The unsold goods are ______________?

The systems of accounting are _____________?

The assets which have some market value are called ____________?

Assets having physical existence are called ___________?

Debts which are payable in the course of a month are called _____________?

Income earned but not received is called ____________?

About the author

Muhammad Arslan

The assets which come into existence upon the happening of a certain event are called__________?

For the business, capital is ____________?

A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of____________?

When owner withdraw cash for its private use, it is called ___________?

The unsold goods are ______________?

The systems of accounting are _____________?

The assets which have some market value are called ____________?

Assets having physical existence are called ___________?

Debts which are payable in the course of a month are called _____________?

Income earned but not received is called ____________?

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About the author

Muhammad Arslan