Multiple Choice
Which of the following is incorrect?
A) good will - intangible asset
B) sundry debtors - current asset
C) loose tools - tangible fixed asset
D) outstanding expenses - current asset
Correct Answer:

Verified
Correct Answer:
Verified
Q4: All revenue incomes are credited to<br>A)manufacturing account<br>B)trading
Q5: Interpretation means<br>A)explanation of meaning and significance of
Q6: _ is root cause for financial accounting<br>A)stewardship
Q7: In income measurement & recognisation of assets
Q8: Dividing the expenditure into capital and revenue
Q10: The process of recording financial data upto
Q11: Profit and loss account is a<br>A)personal account<br>B)real
Q12: Provision for discount on debtors is calculated
Q13: Human resources will not appear in the
Q14: Commission paid is a<br>A)personal account<br>B)real account<br>C)nominal account<br>D)representative