Multiple Choice
Which of these is a liability, not because it is a legal claim but because of past industry or business behaviour?
A) money borrowed from an associate company
B) trade creditors
C) deposit on services received in advance
D) provision for employee bonuses
Correct Answer:
Verified
Correct Answer:
Verified
Q45: Intangible assets have no physical substance but
Q46: Identify the non-current asset.<br>A) long-term investment<br>B) machinery<br>C)
Q47: The only tangible asset that is not
Q48: An example of where the prudence assumption
Q49: Under the accounting standards, which alternative measure
Q51: Identify the asset.<br>A) loan from ABC Ltd.<br>B)
Q52: A reserve name that would not appear
Q53: Without the business entity convention, which item
Q54: What is the effect on the balance
Q55: If assets are $34,800 and equity is