Q25.Non-current Assets is
(1) Stock
(2) Building
(3) Prepaid Expense
(4) Debtors
Answer
Building
Related Questions on Theory Base of Accounting
Q26.Formula of Liquid Assets
(1) Current Assets – Current Liabilities
(2) Current Assets – Stock + Prepaid Expense
(3) None of these
(4) Current Assets + Stock + Prepaid Expense
Answer
Current Assets – Stock + Prepaid Expense
Q27.Which of the following account will be credited when interest on capital is charged against the distribution of profit?
(1) Partner`s capital account
(2) Interest account
(3) Profit & loss appropriation account
(4) Profit & loss account
Answer
Partner`s capital account