Smartindia Classroom
CONTENTS
English I
Computer Application
Physics
Chemistry
Biology
Mathematics
History
Geography
Economics(optional)
Commercial Application
Civics
English II
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Question-1
_________ are payable in the long run or on the termination of business.
(A)
Current Liabilities
(B)
Fixed Liabilities
(C)
Contingent Liabilities
(D)
None of these
Question-2
_________ are not assets but expenses of a heavy nature which are expected to provide benefits over several years.
(A)
Wasting Assets
(B)
Current Assets
(C)
Fictitious assets
(D)
None of these
Question-3
_________ is a nominal account.
(A)
Income and Expenditure Account
(B)
Balance Sheet
(C)
Receipts and Payments Account
(D)
None of these
Question-4
__________ liabilities become payable on the happening of particular events.
(A)
Current Liabilities
(B)
Fixed Liabilities
(C)
Contingent Liabilities
(D)
None of these
Question-5
_________ assets are converted into cash within a short period, generally one year.
(A)
Fixed Assets
(B)
Wasting Assets
(C)
Current Assets
(D)
None of these
Question-6
_________ is a summary of cash transactions.
(A)
Balance Sheet
(B)
Income and Expenditure Account
(C)
Receipts and Payments Account
(D)
None of these
Question-7
_________ means a statement which shows the assets and liabilities of an organisation and its capital on a particular date.
(A)
Income and Expenditure Account
(B)
Profit and Loss Account
(C)
Balance Sheet
(D)
None of these
Question-8
_________ assets are not permanent and these are ever changing assets that change depending on the business.
(A)
Liquid Assets
(B)
Floating Assets
(C)
Wasting Assets
(D)
None of these
Question-9
__________ shows the financial position of the business.
(A)
Trading Profit and Lose Account
(B)
Receipts and Payments Account
(C)
Balance Sheet
(D)
None of these
Question-10
The value of _________ assets diminishes with the passage of time.
(A)
Wasting Assets
(B)
Current Assets
(C)
All of these
(D)
None of these
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Std 10
ICSE/ISC
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