B.COM AFM-1 (Final Accounts) MCQ's




Question 121 :
WIP in the books of a manufacturer is

  1. Partly finished goods
  2. Finished goods
  3. Raw material
  4. None of the above
  

Question 122 :
Total assets must be equal to total liabilities.

  1. TRUE
  2. FALSE
  

Question 123 :
Trade mark is a

  1. Current asset
  2. Fixed asset
  3. Fictitious asset
  4. None of the above
  

Question 124 :
Net profit is a liability of business.

  1. TRUE
  2. FALSE
  

Question 125 :
Unearned commission is a liability.

  1. TRUE
  2. FALSE
  
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