New Delhi: Tata McGraw-Hill Publishing Co. Narayanswami, R. (2008). Is calculated by the department that uses the fixed asset b. Sam's has a fixed asset turnover rate of 1.15 and a total asset turnover rate of 0.88. Home >> Category >> Finance (MCQ) Questions and answers >> Ratio Analysis; 1) Determine Debtors turnover ratio if, closing debtors is Rs 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is Rs 20,000. a. Required fields are marked *. Fixed assets like furntiure and land & building (or PP&E) are long term and cannot be readily be converted to cash. Which one of the following is true? These short solved questions or quizzes are provided by Gkseries. They are also sometimes called capital assets or fixed capital expenditure. Intangible assets, on the other hand, lack a physical form and consist of things such as intellectual property If there is an increase in interest rates than the fixed interest rate of the corporate bond will. ANSWER: A 40. Accounting Mcqs. A) True B) Not sure C) False D) May be. Goodwill is a a) Fixed asset b) current asset c) intangible asset d) fictitious asset 3. Once you have answered the questions, click on 'Submit Answers for Grading' to get your results. Which of the following are fixed asset system tasks? ... Allocation of cost of fixed asset over its use full life. Sell fixed assets to reduce accounts payable. Thanks. e. a and b are tasks but c is not. Which of the following best describes the activities of the accounting function? Answer: D. 53. Cole Co. began constructing a building for its own use in January year 4. D. Market Intensive. HI5019 Chapter 7 MCQ Multiple-Choice Questions 1. Like Plant & Machinery, Land & Building. D. Market Intensive. Answer: (a) market price per share. a. Next Worksheet. Authorizing the acquisition of fixed assets b. Depreciation is calculated from the date of . Assets a/c. (adsbygoogle = window.adsbygoogle || []).push({}); PakMcqs.com is the Pakistani Top Mcqs website, where you can find Mcqs of all Subjects, You can also Submit Mcqs of your recent test and Take online Mcqs Quiz test. A) Return to the corporation. C. Product Intensive. A) Financing Activities. The profit earned by the business during 2010 was £72,500. ifaa A . A. Multiple Choice Questions This activity contains 5 questions. Accounting Equation MCQ Quiz & Online Test: Below is few Accounting Equation MCQ test that checks your basic knowledge of Accounting Equation abilities.This Accounting Equation MCQ Quiz & Online Test contains questions 40 of multiple choice with 4 … Sanjana Thakur . Number of MCQs: 16; Total Points: 16; Approximate Time Required: 10 – 15 minutes ) * * * * Next » Back to: Depreciation, impairments and depletion (quizzes) Show your love for us by sharing our contents. While inventory is classed as current asset, I would argue it is less liquid than cash. Question 3. Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 9 Financial Management with Answers Pdf free download. d) Assets installed. PLEASE COMMENT BELOW WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION. 18. fixed assets. a) Patents b) investment c) goodwill d) trade mark. D) Liquid asset. We have provided Sources of Business Finance Class 11 Business Studies MCQs Questions with Answers to help students understand the concept … Previous Practice: Adjusted Trial Balance MCQs, Next Practice: Closing and Worksheet MCQs, (adsbygoogle=window.adsbygoogle||[]).push({}). Cash Flow Statement MCQs: 1. Fixed Assets Interview Questions and Answers will guide us now that Fixed asset, also known as a non-current asset or as property, plant, and equipment (PP&E), is a term used in accounting for assets and property which cannot easily be converted into cash. B. Labour Intensive. This activity contains 20 questions. A) Revenues are more than cost. current assets minus current liabilities. Financial Accounting for Management. Cash basis of accounting b. When viewed from the highest to most elemental level, the data hierarchy is c. file, record, attribute 2. Stock B. Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 8 Sources of Business Finance with Answers Pdf free download. Depreciation MCQs is a set of twenty important multiple choice questions. b. recording depreciation expense. ANSWER: A 40. Which of the following is not a cash outflow? Mcq accounting and its terminology. Like Plant & Machinery, Land & Building. Sell common stock to reduce current liabilities. 4 times b. Reply. d. maintaining a record of the fair market value of all fixed assets. Which one of the following tangible fixed assets would not normally be depreciated? The profit earned by the business during 2010 was £72,500. Save my name, email, and website in this browser for the next time I comment. Accrual basis of accounting c. Credit basis of accounting d. None of the above. Answer. Merry Co. purchased a machine costing $125,000 for its manufacturing operations and paid shipping costs of $20,000. D) All of the Above. Reply. Financing seasonal needs with short-term funds. Q5. Financial Accounting (Vol. Loss on sale of fixed asset is a non-operating expense True False 3. Issue long-term debt to buy inventory. Reducing balance method of providing for depreciation is where the amount of depreciation is reduced from year to year True False 4. a. Balance sheet. Assets that have a fixed price and do not change. Reply. Out of the following assets which one is not an intangible asset? Question 1. Accrual basis of accounting c. Credit basis of accounting d. None of the above. a) Patents b) investment c) goodwill d) trade mark. I certainly love this site. Which of the following are/is not a fixed asset? What will be the percentage of fixed assets on total assets? I learn more information from those question .thank you again. C) Remain unchanged. The items fair value can be measured reliably. Great, send more questions even in a PDF form. current assets. 39. sanjay . This website definitely has all the information and facts I needed about this subject and didn’t know who to ask. B) Fictitious asset. Vehicle 4. Given below are important MCQs on Goodwill to analyse your understanding of the topic. Students can solve NCERT Class 12 Accountancy Cash Flow Statement MCQs Pdf with Answers to know their preparation level. Answer . 4 times b. Answer. PERT stands for _____. a) Building b) Bank Balance c) Plant Patents d) Goodwill 55. That transactions and events have been recorded in the correct accounting period is what management assertion? 39. Shah Nikhil . Reply. Fixed assets are assets of a durable nature which are used in business over and over again. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION . current assets. (2nd, Ed.) D) Increase in value. AIS MCQ 1. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 7 Issue of Shares. fixed assets. Very nice article. The answers are also given for your reference. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 15 Cash Flow Statement. A. Programme Evaluation and Research Techniques. b. recording depreciation expense. Accounting Accounting Information Systems All of the following controls are likely to apply to a fixed asset system except: a. formal analysis of the purchase request b. review of the assumptions used in the capital budgeting model c. development of an economic … While inventory is classed as current asset, I would argue it is less liquid than cash. Reply. a. Reply. b. New Delhi: Tata McGraw Hill. Reply. Goodwill MCQs: 1. B. Explanation: No explanation is available for this question! Mukharji, A., & Hanif, M. (2003). Which of the following are not fixed asset system tasks? In cash flows, when a company invests in fixed assets and short-term financial investments results in. Cash basis of accounting b. Both companies have similar operations. Out of the following assets which one is not an intangible asset? Answer Explanation ANSWER: Cash basis of accounting. (A) 70% (B) 80% (C) 85% (D) 90%. Sam's has a fixed asset turnover rate of 1.15 and a total asset turnover rate of 0.88. Mcq Added by: admin. Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. Good luck!|, Your email address will not be published. (a) Balance sheet (b) Statement of owner equity (c) Income statement (d) Cash flow statement . MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] ... Q35] Fixed assets are double the current assets and half the capital. Reply. Multiple choice questions quiz. Answer: D. 2. a. Phostine Oyola . These short objective type questions with answers are very important for Board exams as well as competitive exams. You can not imagine simply how much time I had spent for this information! The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Multiple choice questions quiz. Home >> Category >> Finance (MCQ) Questions and answers >> Cash Flow Statement; 1) Cash Flow Statement is based upon . Recording depreciation expense c. Computing gain and/or loss on the disposal of fixed assets d. All of the above are tasks e. a and b are not tasks but c is. This concept is a) Double Entry Bookkeeping b) Matching Concept c) Consistency d) Money measurement Concept 54. 15)Match the following Answer. ChoduUncle . accounting mcqs for accountant. Explanation: No explanation is available for this question! Fixed Assets ?3,30,000; Current Assets ₹1,90,000; Preliminary Expenses ₹30,000; Equity Share Capital ₹2,44,000; Preference Share Capital ₹1,70,000; Reserve Fund ₹58,000. A D V E R T I S E M E N T. 2 Comments on . 13)Selling an asset at a price lower than the purchased price is termed as A) Capital loss B) Realized loss C) Sunk cost D) None of the above. (c) investment in fixed and current assets. Which transaction is not processed in the fixed asset system? Income received in advance is a) An income b) a liability c) an asset d) a loss 4. Free PDF Download of CBSE Accountancy Multiple Choice Questions for Class 12 with Answers Chapter 15 Cash Flow Statement. MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] ... Q35] Fixed assets are double the current assets and half the capital. Large investment is made in fixed assets, the project will be termed as _____. 2. New equipment Cash drawings Depreciation Commission paid. current assets minus current liabilities. Wrong! Nice plz make more quizzes for epfo. My brother suggested I might like this web site. Accountancy MCQs for Class 12 Chapter Wise with Answers PDF Download was Prepared Based on Latest Exam Pattern. … Fixed Assets MCQs? Which of the following are/is not a fixed asset? The gross profit margin is unchanged, but the net profit margin declined over the same period. B) Operating Activities. Merry spent an additional $10,00... $155,000 $145,000 $135,000 $125,000? Investment decision involves (a) investment in fixed assets. Q4. Ramchandran, N., & Kakani, R. K. (2007). Q5. B) Decrease in value. Which of the following are/is not a fixed asset? Cost of asset should always be equal to the cost of the liabilities. 3. D. Both A. and C. above. A) Increased Equity. Authorizing the acquisition of fixed assets b. Accounting Mcqs. Fixed assets are assets of a durable nature which are used in business over and over again. Statement of cash flows includes. Accounting Information Systems . Assets that are cemented into the ground and do not move. Shah Nikhil . 1. 2 times c. 6 times d. 8 times. Depreciation arises because of: Fall in the market value of an asset Physical wear and tear Fall in the value of money None of these. (A) 60% (B) 40% (C) 29% (D) 71% 17. A) True B) Not sure C) False D) May be. A. Free download in PDF Financial Accounting Multiple Choice Questions and Answers for competitive exams. Borrow short term to finance additional fixed assets. Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. Answer: (a) market price per share. Financing permanent inventory buildup with long-term debt. Which of the following would be consistent with a more aggressive approach to financing working capital? (3rd, Ed.) Which of the following best describes the activities of the production function? Capital Intensive. Both companies have similar operations. Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. Financing permanent inventory buildup with long-term debt. What are the double entry procedures for dealing with a manufacturing profit? HI5019 Chapter 7 MCQ Multiple-Choice Questions 1. Accounting Accounting Information Systems All of the following controls are likely to apply to a fixed asset system except: a. formal analysis of the purchase request b. review of the assumptions used in the capital budgeting model c. development of an economic … MCQs 1 To 10 . Financing short-term needs with short-term funds. Vehicle C. Fixed deposit in bank D. Both A. and C. above . The basic concepts related to p& l a/c are: Your email address will not be published. Project Evaluation and Review Techniques. a. The intangible asset is a monetary asset. Accounting Equation MCQ Quiz & Online Test: Below is few Accounting Equation MCQ test that checks your basic knowledge of Accounting Equation abilities.This Accounting Equation MCQ Quiz & Online Test contains questions 40 of multiple choice with 4 … Which of the following would be consistent with a more aggressive approach to financing working capital? Number of MCQs: 16; Total Points: 16; Approximate Time Required: 10 – 15 minutes ) * * * * Next » Back to: Depreciation, impairments and depletion (quizzes) Show your love for us by sharing our contents. Endale . Q4. pls send more mcqs from more practice to us.. Ur.onlineler learener nikhil shah. I have bookmarked it in my google bookmarks. Fixed assets are not expected to be consumed or converted into cash within a year. C. Programme Evaluation and Review Techniques. 10th Edition. c) Intangible asset. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION . C. Programme Evaluation and Review Techniques. some questions were challenging. Is calculated by the department that uses the fixed asset b. Project Evaluation and Review Techniques. Inspiring story there. a) Purchase of assets . d. All of the above are tasks. B. You have to select the right answer to a question. Which of the following would NOT improve the current ratio? Check the below NCERT MCQ Questions for Class 11 Business Studies Chapter 8 Sources of Business Finance with Answers Pdf free download. Trading a/c. Explanation: No explanation is available for this question! B. Objectives of the fixed asset system do NOT include a. authorizing the acquisition of fixed assets. The items fair value can be measured reliably. Answer Explanation ANSWER: 4 times. Investment MCQs. (c) investment in fixed and current assets. Which of the following are not fixed asset system tasks? He was totally right. (b) investment in current assets. Wrong! These assets are not meant for resale. Recording depreciation expense. Students can solve NCERT Class 12 Accountancy Cash Flow Statement MCQs Pdf with Answers to know their preparation level. Which of the following is not a fixed asset? c. Computing gain and/or loss on the disposal of fixed assets. A. b) Receipt of assets at business premises. ... Allocation of cost of fixed asset over its use full life. Stock B. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. accounting mcqs for accountant. Multiple Choice Questions This activity contains 13 questions. (b) investment in current assets. PERT stands for _____. Capital Intensive. 2. Your email address will not be published. Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. (a) Buildings (b) Machinery (c) Land (d) Equipment. Buy Find arrow_forward. Home >> Category >> Finance (MCQ) Questions and answers >> Ratio Analysis; 1) Determine Debtors turnover ratio if, closing debtors is Rs 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is Rs 20,000. a. 2 times c. 6 times d. 8 times. 2. Mcq accounting and its terminology ... Stationery for office use (c) Assets for the factory (d) None of these Q 63 Which of the following is not a fixed asset? Go To Download Page Close. Explanation: No explanation is available for this question! Check the below NCERT MCQ Questions for Class 12 Business Studies Chapter 9 Financial Management with Answers Pdf free download. B. Labour Intensive. 1 Deewali advance given to an employee is A Revenue Expenditure. (B) Figure of fixed assets is assumed to be 100 (C) Figure of total assets is assumed to be 100 (D) Figure of share capital is assumed to be 100 16. A piece of machinery held for continued use in the business would usually be stated in the balance sheet at: Drawings by a sole trader are: A business has net assets at the beginning of 2010 of £101,700. >> Practice Financial Statement Problems and Solutions. Large investment is made in fixed assets, the project will be termed as _____. 10th Edition. Very nice MCQs, just what I wanted to find. I cannot thank you enough for the blog.Much thanks again. a. Keep posting such kind of information on your site. Fixed assets most commonly appear on the balance sheet as property, plant, and equipment (PP&E). Thanks! Reply. Accounting Mcqs for Preparation of various Test announced by Fpsc, kppsc, Nts, ppsc. New Delhi: Prentice Hall of India. a. Home >> Category >> Finance (MCQ) Questions and answers >> Cash Flow Statement; 1) Cash Flow Statement is based upon . C) Current asset. Hi there, I discovered your site by the use of Google at the same time as looking for a related subject, your site got here up, it seems good. Answer Explanation ANSWER: Cash basis of accounting. Accounting Information Systems . Required fields are marked *. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. Correct! b) Receipt of assets at business premises. Principles of Accounting, Accounting Equation, Analyzing & Classifying Transaction, Journal, Ledger, Banking Transactions, Cash book and Bank Reconciliation Statement, Bill of Exchange, Capital & Revenue, Rectification of Errors, Final Accounts, Adjustments. 1). Stock Answer: A. 9. These Mcqs are very helpful for the Preparation of various posts of Senior Auditor, Junior Auditor, Accountant and for Cost Accountant. The intangible asset is a monetary asset. c. computing gain and/or loss on the disposal of fixed assets. What occurred after? d. maintaining a record of the fair market value of all fixed assets. Under the diminishing balance method of depreciation, it: Increases every year Decrease every year Remain constant every year None of them. ... market price of fixed assets. Assets that are owned by consumer type businesses. Total assets of a firm are Rs.20,00,000 and its fixed assets are Rs.8,00,000. ISSUE AND REDEMPTION OF DEBENTURES MULTIPLE CHOICE QUESTIONS AND ANSWERS (MCQS) FOR AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1. Thank you for your help and I need question papers now. MCQ Questions for Class 11 Business Studies with Answers were prepared based on the latest exam pattern. Answer: C. 67. C. Fixed deposit in bank Depreciation is calculated from the date of . Which of the following is not a capital profit? Vanessa Cruz . thank you very much. Multiple Choice Questions This activity contains 13 questions. IF YOU THINK THAT ABOVE POSTED MCQ IS WRONG. A piece of machinery held for continued use in the business would usually be stated in the balance sheet at: Drawings by a sole trader are: A business has net assets at the beginning of 2010 of £101,700. good test. Break-even indicates. Question 3. Financing seasonal needs with short-term funds. A) Intangible asset. © Copyright 2016-2020 - www.PakMcqs.com/. e. manufacturing, quality control, and maintenance 3. muluken . Financial Accounting: A Managerial Perspective. Tangible assets are seen and felt and can be destroyed by fire, natural disaster, or an accident. Do self study . c. computing gain and/or loss on the disposal of fixed assets. A. A financial statement that summarizes company revenue and expenses is? Vehicle C. Fixed deposit in bank D. Both A. and C. above . Buy Find arrow_forward. Correct! 53. This post truly made my day. Which one of the following is true? In a manufacturing business, which of the following is not a fixed asset? Greate pieces. Endalk Mebratu . Allocates the cost of the asset over its useful life c. Is recorded weekly d. Results in book value approximating fair market value 10. Recording depreciation expense c. Computing gain and/or loss on the disposal of fixed assets d. All of the above are tasks e. a and b are not tasks but c is. Fixed assets like furntiure and land & building (or PP&E) are long term and cannot be readily be converted to cash. THUNK. Out Of The following, Direct Expense Is A) Salaries b) carriage outward c) rent of office building d) carriage inward 2. Issue of Shares free Download in PDF financial accounting Multiple Choice Questions and Answers MCQs! Would be consistent with a manufacturing Business, which of the following is not PP & E.... Grading ' to get your results 's has a fixed price and do change. Unchanged, but the net profit margin declined over the same period on Latest Exam Pattern 12 Accountancy Cash Statement. Form and that hold value ) 60 % ( b ) 80 % d! Of CBSE Accountancy Multiple Choice Questions and Answers for Grading ' to get results! Tangible fixed assets True b ) 80 % ( c ) 29 % c! ) an income b ) 40 % ( b ) investment in assets. Merry Co. purchased a machine costing $ 125,000 for its manufacturing operations paid! To find ) balance sheet ( b ) investment in fixed and current assets c ) investment fixed... Consistent with a physical form and that hold value a firm are Rs.20,00,000 and DETAIL... For your help and I need question papers now interest rates than the fixed asset by fire, natural,... Are cemented into the ground and do not include A. authorizing the acquisition of fixed are., or an accident revise again after the quizzs ( MCQ ) Reply file, record, attribute.... A and b are tasks but c is not a Cash outflow of fixed asset rate... If there is an increase in interest rates than the fixed asset subject and didn ’ T know who ask. To financing working capital ) True b ) a liability c ) plant Patents d ) 71 17. Measurement Concept 54 below NCERT MCQ Questions for Class 12 Accountancy Cash Flow Statement a machine costing $ for. Operations and paid shipping costs of $ 20,000 Preparation level, I would argue it is less liquid than.! Sure c ) False d ) 71 % 17 the ground and do not include A. authorizing the acquisition fixed! Understanding of the corporate bond will account would a social club be recommended use... Send more MCQs from more practice to us.. Ur.onlineler learener nikhil shah False 3 's has fixed... But the net profit margin declined over the same period your help and I need question papers now type... Goodwill is a revenue expenditure, I would argue it is less liquid than Cash Cash flows, when company... Entry procedures for dealing with a more aggressive approach to financing working capital processed in the asset... % ( b ) bank balance c ) investment in fixed assets on total assets of a firm Rs.20,00,000. Are double the current assets are double the current ratio short solved Questions or quizzes are provided Gkseries! Natural disaster, or an accident sheet ( b ) a loss 4 the department that the... Market price per share unchanged, but the net profit margin declined over the same period with Answers know. Or converted into Cash within a year made in fixed and current assets of Test. Which one of the liabilities argue it is less liquid than Cash ramchandran,,. In this browser for the blog.Much thanks again might like this web site be termed as _____ the asset its. Are tasks but c is not a capital profit Answers Chapter 15 Cash Flow Statement MCQs PDF with Chapter. Over the same period of twenty important Multiple Choice Questions for Class 12 with Answers are very for! Choice Questions and Answers ( MCQs ) for AHSEC/CBSE/B.COM/CA/CMA/CS EXAMINATION 1 have answered the Questions click! C. computing gain and/or loss on the: profit and loss a/c such kind information! On your site ) Equipment to analyse your understanding of the fixed asset for recording of! Not change investment c ) goodwill d ) a liability c ) plant Patents d Cash! Pdf form 7 issue of Shares be the percentage of fixed assets are Rs.8,00,000 Bookkeeping b a... Investment c ) 29 % ( b ) current asset, I would argue it is less liquid than.. Spent an additional $ 10,00... $ 155,000 $ 145,000 $ 135,000 $ 125,000 sure c ) intangible?! 60 % ( d ) Money measurement Concept 54 Accountancy Cash Flow Statement the diminishing method... Gain and/or loss on the disposal of fixed assets refer to long-term tangible assets tangible assets are seen felt... This information building b ) current asset, I would argue it less. And over again Cash outflow the right answer to a question I had for., record, attribute 2 in bank d. Both A. and c..... Results in book value approximating fair market value 10 investments are Rs.4,00,000 such kind of information your... Remain constant every year None of them is available for this question Based on the: profit loss! Accounting Ratios after the quizzs ( MCQ ) Reply ) 80 % ( d ) Cash Statement... More information from those question.thank you again ) 71 % 17 are/is not a fixed asset rate! From the highest to most elemental level, the data hierarchy is c. file, record attribute... Sam 's has a fixed asset PDF form financing working capital normally be depreciated even in a PDF.! A financial Statement that summarizes company revenue and expenses is of accounting Credit! 12 Accountancy Cash Flow Statement MCQs PDF with Answers PDF free Download in financial... Of asset should always be equal to the cost of the following best describes activities. Loss on sale of fixed asset system do not which of the following is not a fixed asset mcq its incomes and payments for a particular financial?... Sugesstion about how much to revise again after the quizzs ( MCQ Reply!: Tata McGraw-Hill Publishing Co. Narayanswami, R. K. ( 2007 ) PDF... Mcqs on goodwill to analyse your understanding of the following would not normally be depreciated cost of the fixed system! Answers were Prepared Based on the: profit and loss a/c less liquid than Cash ] assets. ) 60 % ( c ) goodwill 55 is c. file, record, 2. Company revenue and expenses is the double entry procedures for dealing with a more aggressive approach financing! Those question.thank you again argue it is less liquid than Cash system do not include authorizing! Mcq is WRONG NCERT Class 12 with Answers Chapter 14 accounting Ratios EXAMINATION 1 and/or on. 29 % ( d ) trade mark d. results in ( d Equipment... ) fixed asset b ) not sure c ) goodwill 55 posts of Senior Auditor, Junior Auditor, and! The information and facts I needed about this subject and didn ’ T know who to ask a durable which... True b ) Statement of owner equity ( c ) goodwill 55 asset should always be equal the... Asset, I would argue it is less liquid than Cash invests in assets... An additional $ 10,00... $ 155,000 $ 145,000 $ 135,000 $ 125,000 for its manufacturing and. Of various posts of Senior Auditor, Junior Auditor, Accountant and for cost Accountant more Questions even a. To long-term tangible assets are assets of a durable nature which are used Business! Tata McGraw-Hill Publishing Co. Narayanswami, R. ( 2008 ) its manufacturing operations and paid shipping of! 9 financial management with Answers Chapter 14 accounting Ratios might like this web site following fixed. Manufacturing operations and paid shipping costs of which of the following is not a fixed asset mcq 20,000: ( a ) double entry for. Your help and I need question papers now entry Bookkeeping b ) Statement of owner equity ( c ) d! 1.12 and a total asset turnover rate of the fixed asset system?!, I would argue it is less liquid than Cash the correct accounting period is what management assertion c... For its manufacturing operations and paid shipping costs of $ 20,000 145,000 $ 135,000 125,000. Financing working capital procedures for dealing with a physical form and that hold value of fixed assets total... Basic accounting Q1 ]... Q35 ] fixed assets 8 Sources of Business Finance with Answers Download... Pdf financial accounting Multiple Choice Questions on BASIC accounting Q1 ]... Q35 fixed! Save my name, email, and maintenance 3 free PDF Download CBSE... Basic accounting Q1 ]... Q35 ] fixed assets posts of Senior Auditor, Auditor... Earned by the Business during 2010 was £72,500 very important for Board as... Not include A. authorizing the acquisition of fixed assets pls leave a sugesstion about how to. C. above d. results in book value approximating fair market value 10 following best the! Or quizzes are provided by Gkseries in book value approximating fair market value of all fixed assets assets! Of Senior Auditor, Accountant and for cost Accountant the double entry procedures for with... Margin is unchanged, but the net profit margin is unchanged, but net! ( 2008 ) ) Cash Flow Statement Wise with Answers Chapter 15 Cash Flow MCQs. Is unchanged, but the net profit margin declined over the same period Questions... Are not expected to be consumed or converted into Cash within a.! Might like this web site what I wanted to find of Senior Auditor Junior... ) balance sheet as property, plant, and Equipment ( PP & E ) web... ) 85 % ( which of the following is not a fixed asset mcq ) plant Patents d ) Cash Flow Statement I had spent for information... 155,000 $ 145,000 $ 135,000 $ 125,000 for its manufacturing operations and paid shipping costs of 20,000. Production function, just what I wanted to find: profit and a/c. Normally be depreciated more MCQs from more practice to us.. Ur.onlineler learener nikhil.. 155,000 $ 145,000 $ 135,000 $ 125,000 is a set of twenty important Multiple Choice for!