Which is the most important characteristic that all assets of a business have?

Related Mcqs:

Cash purchases is recorded in which of the following specialized journals?

A. Purchase journal B. Sales journal C. Purchases return journal D. Cash payments journal...

_________ is the evidence that a transaction took place?

A. Source documents B. Ledger C. Bonds D. Journals...

Which of the following is a representative Personal A/c?

A. Outstanding Salary A/c B. Rent A/c C. SBI A/c D. Bad debts A/c...

The entry for creating a Provision for bad debts is_____________?

A. Debit Provision for Bad Debts A/c and credit Debtors A/c B. Debit Debtors A/c and credit Provision for Bad Debts A/c C. Debit Provision for Bad Debts A/c and credit Profit & Loss A/c D. Debit Profit and Loss A/c and credit Provision for Bad Debts A/c....

Closing entries are generally passed:

A. At the time of opening new books of account B. At the time of closing the accounts C. During the course of accounting period any time D. After certification of accounts...