Multiple Choice
Property, Plant and Equipment are defined as,
A) Tangible assets held for sale in the ordinary course of business
B) Tangible assets held to earn rental or for capital appreciation or both
C) Tangible assets used in the process of production or supply of goods or services or for rental to others
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q2: What do you mean by ASB?<br>A)Accounting Security
Q3: Indian Accounting Standard 3 (AS3) deals with….<br>A)Amalgamation<br>B)Lease<br>C)Cash
Q4: The useful life of an intangible asset
Q5: Inventories must be measured at<br>A)Cost<br>B)Lower of cost
Q6: Which of the following asset is not
Q8: Cost of inventory is a sum of<br>A)Cost
Q9: Consumable stores are<br>A)Inventories<br>B)Property, Plant and Equipment<br>C)Investment Property<br>D)Intangible
Q10: FASB is based in…………….<br>A)London<br>B)Chennai<br>C)New York<br>D)Norwalk
Q11: Cost of inventory does not include<br>A)Salary of
Q12: ASB was set up in India on………………<br>A)21