Which assets are assets hold on a short term basis?
Current assets
Fixed assets
Preliminary expense
Profit
Which are the total revenue from goods or services provided to customers?
Purchases
Assets
Sales
Capital
Assets acquired relatively for long periods.
Intangible assets
Wasting assets
Which accounting assists keeping a systematic record of financial transactions?
Management accounting
Financial accounting
Cost accounting
Audit accounting
Amount invested by the owner in the firm is known as:
Revenue
Drawings
Which stock is the amount of stock at the beginning of accounting period?
Opening stock
Closing stock
Stock in hand
Finished goods
Assets acquired with the intention of converting into cash .
Which are the economic resources of an enterprise that can be usefully expressed in monetary terms?
Liabilities
Revenues
Costs incurred by a business in the process of earning revenue are known:
Expenditure
Expenses