Assets acquired with the intention of converting into cash.
Fixed assets
Current assets
Intangible assets
Wasting assets
Which is a measure of something on hand- goods, spares and other items in a business?
Closing stock
Opening stock
Wages
Stock in hand
The excess of revenues of a period over its related expenses during the accounting year.
Which is the withdrawal of goods by the owner from the business for personal use?
Voucher
Purchase
Sales
Drawing
Which are the total amount of goods procured by a business on credit and on cash for sale?
Purchases
Purchase Return
Sales Return
Capital expenditure is treated as:
Assets
Liabilities