accountancy class 11

Amount which the proprietor has invested in a business is known as ......

• Capital

• Liability

• Asset

• Expenses

Current Liabilities include:

• Bills Payable

• Creditors

• Outstanding Expenses

• All of the above

Assets held for continued use in the business and not meant for resale are termed as..........

• Fixed asset

• Current Asset

• Tangible asset

• Intangible Asset

Which of the following equation is correct.....

• Assets= Liabilities - Capital

• Liabilities= Assets - Capital

• Capital= Assets + Liabilities

• Assets= Capital- Liabilities

Business is said to be in a profit when

• Expenditure exceeds income

• Income exceeds expenditure

• Income exceeds liability

• Assets exceed expenditure

A ________ is an Intangible Assets.

• Goodwill

• Cash

• Furniture

• Stock

General Reserve is recorded in ________ side of ______ .

• Liability, Balance Sheet

• Assets , Balance Sheet

• Debit , Trading Account

• Credit, Trading Account

Assets = Liability + ________

• Capital

• Bank Overdraft

• Bank Loan

• Creditors

Ram and Mohan are in partnership with 48 others. Mohan wants to admit his friend Sohan into the partnership. All the other partners agree. Will sohan be admitted?

• Yes

• No

current ratio formula

• current asset by current liability

• current asset by liquid liability

• current liability by current asset

• liquid asset by liquid liability