Accounting

What kind of asset is a van which delivery company owns and uses to deliver goods?

• fixed assets

• current assets

• intangible assets

What kind of asset is a van for sale in a showroom?

• current assets

• fixed assets

• intangible assets

What kind of assets is a showroom owned by a company that sells vans?

• fixed assets

• current assets

• intangible assets

What kind of liability is a showroom rented by a company that sells cars?

• currents liabilities

• long-term liabilities

• owner's equity

What kind of liability is money which customers owe that will definitely be paid in the next 60 days?

• current liability

• long-term liability

• owner's equity

...... are anything that can be easily turned into cash.

 .......... are those which value could be quantified and turned into cash with difficulty such as goodwill, copyright, trademark.

It  is an accounting method of allocating the cost of a tangible or physical asset over its useful life or life expectancy, it shows how much of an asset's value has been used up

• depreciation

• profit and loss account

• accounting equation

......... are financial obligations of a company that are due more than one year in the future.

It refers to the raw materials, labor, and overhead costs incurred for products that are at various stages of the production process.