Accounts Bridge Course

Assets are resources ______________ by an entity

• Owned

• Owned and Controlled

• Controlled

• None of above

If Mr A has Assets worth INR 20,000 and Liabilities INR 1000 his capital would be

• 21000

• 20000

• 19000

• 22000

Trade Marks is an _______________ asset

• Real

• Intangible

• Both a and b

• None of above

Assets of an entity is INR 200000 and liabilities are INR 50000 capital is

• 150000

• 250000

• 200000

• 50000

What is common is Land, Debtors, Cash and Patents

• All are Fixed assets

• All are tangible assets

• All are real assets

• None of above

Capital + Liabilities =

• Assets

• Incomes

• Expenses

• None of above

What is common among Buildings, Machinery and Furniture

• All are Fixed assets

• All are tangible assets

• All are tangible and fixed assets

• None of the above

Patents is a ___________ asset

• Tangible

• Currnet

• Ficticious

• Intangible

A Liability is a ________________

• Obligation

• Right

• Expense

• Income

In which of the following options you see only liabilities

• Creditors, Trade Payables, Debentures and Trade Marks

• Bank Overdraft, Machinery, Creditors and Long term borrowing

• Motor car, Furniture, Machinery and Buildings

• Creditors, Bills payable, Bank Loan and Overdraft