Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Debts which are repayable in the course of less than one year bur more than one month are called	Quick liabilities Deferred liabilities Contingent liabilities Liquid liabilities
2	Goodwill, patent, copyright and trade mark are	Wasting assets Intangible assets Fictitious assets Liquid assets
3	Net sales are equal to sales minus	Returns inwards Returns outwards Cost of goods sold carriage on sales
4	Assets which have no market value are called	Wasting assets Fictitious assets Intangible assets Tangible assets
5	Stock is trade is a	Current asset Non-current asset Quick asset Intangible asset

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