Q15.Goodwill is an (1)Tangible Asset. (2) Intangible Asset. (3) Current Asset. (4) Fictitious Asset. Answer Intangible Asset. Related Questions on Introduction to Accounting Q16.Goods taken by the proprietor for personal use is (1) Sale. (2) Drawings. (3) Purchase. (4) None of these. Answer Drawings. Q17.Deepti wants to buy a building for her business today. Which … Read more
Q14.Modern system of bookkeeping is (1)Single entry system (2) Double entry system (3) British system (4) None of these Answer Double entry system Related Questions on Introduction to Accounting Q15.Goodwill is an (1)Tangible Asset. (2) Intangible Asset. (3) Current Asset. (4) Fictitious Asset. Answer Intangible Asset. Q16.Goods taken by the proprietor for personal use is … Read more
Q13.Nominal Accounts are related to: (1)Assets and Liabilities. (2) Expenses and Revenue. (3) Debtors and Creditors. (4) None of these. Answer Expenses and Revenue. Related Questions on Introduction to Accounting Q14.Modern system of bookkeeping is (1)Single entry system (2) Double entry system (3) British system (4) None of these Answer Double entry system Q15.Goodwill is … Read more
Q12.Patents, Copyrights and Trademarks are (1)Fixed assets (2)Current assets (3)Investments (4)Intangible assets Answer Intangible assets Related Questions on Introduction to Accounting Q13.Nominal Accounts are related to: (1)Assets and Liabilities. (2) Expenses and Revenue. (3) Debtors and Creditors. (4) None of these. Answer Expenses and Revenue. Q14.Modern system of bookkeeping is (1)Single entry system (2) Double … Read more
Q11.Promise to pay a certain amount is called (1) Account Payable (2) Notes Payable (3) Amount Payable (4) Discount Payable Answer Notes Payable Related Questions on Introduction to Accounting Q12.Patents, Copyrights and Trademarks are (1)Fixed assets (2)Current assets (3)Investments (4)Intangible assets Answer Intangible assets Q13.Nominal Accounts are related to: (1)Assets and Liabilities. (2) Expenses and … Read more