Q11. Under the going concern concept, current assets are valued at ________
1) Cost price
2) Market price
3) Cost or market value whichever is lower
4) Cost or market value whichever is higher
Q12. Provision for depreciation is a/an_________.
1) Asset
2) Capital
3) Liability
4) Loss
Q13. Goods worth Rs. 1,00,000 were sold to Mr. X
against a cheque issued by him. The journal entry for this will be_________
1) Debit bank account, credit Mr. X’s account
2) Debit Mr. X’s account, credit sales account
3) Debit bank account, credit sales account
4) Debit cheque received account, credit sales
account
Q14. The intrinsic value of a bond is -----.
1) Face value
2) Present value of cash flows in future
3) Market price
4) Issue price
Q15. In terms of Present value or Future value,
the term ‘value’ is also known as ________
1) Principal
2) Investment
3) Cash flow
4) None of these
Answers:
