Q38.Which of the following is not a current asset ?
(1) Debtors
(2) Prepaid Expenses
(3) Bills Receivable
(4) Furniture
Answer
Furniture
Related Questions on Theory Base of Accounting
Q39.During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:
(1) Matching
(2) Conservation
(3) None of the above
(4) Accounting period
Answer
Accounting period
Q40.Salary A/c is related to
(1) Real A/c
(2) Personal A/c
(3) Capital A/c
(4) Nominal A/c
Answer
Nominal A/c