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Quiz Start Time: 10:49 PM Question # 1 of 15 ( Start time: 10:49:55 PM ) Total Marks: 1
Which of the following is/are equal to “Capital”?
Select correct option: Net Assets
page # 107 Net worth of the firm All of the given options Quiz Start Time: 10:49 PM Question # 2 of 15 ( Start time: 10:50:57 PM ) Total Marks: 1 Which of the following should not be recognized as an asset? Select correct option: Patent rights
Internally Generated Goodwill
page 36 Copy rights Goodwill Quiz Start Time: 10:49 PM Question # 3 of 15 ( Start time: 10:51:22 PM ) Total Marks: 1 Which is/are the qualitative characteristic/ characteristics of financial statements
according to the IASB’s Framework?
Select correct option: Understandability Comparability Relevance
All of the given page 96
Quiz Start Time: 10:49 PM Question # 4 of 15 ( Start time: 10:51:53 PM ) Total Marks: 1 Which of the following represents the meaning of turnover in accounting? Select correct option:
Gross sale page 152
Total profit Total output Total investment Quiz Start Time: 10:49 PM Question # 5 of 15 ( Start time: 10:52:20 PM ) Total Marks: 1 According to IAS-16, at which amount assets can be recorded in the books of accounts of a company? Select correct option: Cost amount Realization amount