Which of the following is not an intangible asset?

a. Preliminary expenses. 

b. Pre-operative expenses.

c. Debit balance of profit and loss account.

d. Prepaid expenses.

Prepaid Insurance is shown in the balance sheet of a firm as:

a. Fixed assets

b. Intangible asset

c. Non-current assets.

d. Current Asset

e. Current liability

The original cost of Fixed assets - Depreciation:

A: Net block.

B: Written down value.

C: Book value.

D: Any of the these.

A bus is a:

A: Current asset for a transport operator.

B: A fixed asset for a transport dealer.

C: Current assets for a transport dealer and fixed assets for a transport operator.

D: Current assets for a transport dealer OR a transport operator

In a balance sheet, Owner's fund or Net Worth mean:

A: Paid-up capital or Capital.

B: Paid-up capital + Reserves.

C: Paid-up capital + Reserves - Intangible Assets.

D: None of the above.

What are contingent liabilities and where are they shown in the balance sheet:

A: Liabilities which may or may not arise, Shown in the Balance Sheet Total.

B: Liabilities which may or may not arise. Shown in the balance sheet along with other Liabilities.

C: Liabilities which may or may not arise. Shown as footnotes.

D: None of the above.

Which of the following is a contingent liability:

A: Liability on account of a letter of credit, letter of guarantee, provisions not made etc.

B: Liability on account of guarantee given by a firm on behalf of another firm.

C: Court case filed against a firm by another firm.

D: All the above

In a Balance Sheet, Profit is shown under _____ and loss is shown as _____.

a. Liability; Asset.

b. Asset; Liability.

c. Current Liability, Current Asset.

d. None.

If a company revaluates its assets, the Networking capital, Current ratio and Quick ratio of the company:

A: Will improve.

B: Will remain unaffected.

C: Will undergo some change.

D: None of the above.