'Intangible Assets' are covered by: MCQ with Answer and Explanation
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Practice More Accountancy and Book Keeping Questions
Question #1
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Which of the following is an example of a personal account?
Correct Answer: Option C
Explanation:
Ramesh's Account represents a specific person, making it a personal account. The rule is 'Debit the receiver, credit the giver'.
Ramesh's Account represents a specific person, making it a personal account. The rule is 'Debit the receiver, credit the giver'.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is a feature of a joint venture?
Correct Answer: Option C
Explanation:
A joint venture is a temporary partnership formed for a specific venture or project, and it ceases to exist once the project is completed.
A joint venture is a temporary partnership formed for a specific venture or project, and it ceases to exist once the project is completed.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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The 'Job Work' under GST means:
Correct Answer: Option A
Explanation:
Job work involves undertaking a process on goods owned by another person.
Job work involves undertaking a process on goods owned by another person.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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