Net Realisable Value of an asset means

A. The historical cost of the asset

B. Its sale value as on a particular date

C. Its written down value as on a particular date

D. None of the above

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  1. Copyright is an example of
  2. Capital of the business is an example of external liability.
  3. Any type of error affects the agreement of Trial Balance.
  4. A part of the profit distributed to the shareholders is known as
  5. The balance in the Cash Book represents net income.
  6. In Double Entry System of Book Keeping, the total of Debit balances may not be equal to the total of…
  7. Net Realisable Value of an asset means
  8. Fixed Assets are stated in the balance sheet at their market value.
  9. Business ventures, which are started for a predefined period, are known as _____________ventures
  10. Depreciation is not charged on _______________.
  11. The account which can never have a credit balance is
  12. HUF stands for
  13. Goodwill is not a fictitious asset.
  14. Mr.Customer purchased goods from Mr.Seller on credit. This is a/an
  15. The basic unit of measurement of the accounting system is ______________.
  16. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  17. Depreciation cannot be provided in case of loss, in a financial year.
  18. The life span of a company is dependent on the life span of the
  19. Contingent liability is an ascertained liability but its amount and due date are indeterminate.
  20. According to the Concept of Conservatism, an accountant should
  21. Providing depreciation ensures sufficient cash for asset replacement.
  22. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  23. The short description of a transaction written at the end of a journal entry is known as _______________.
  24. Cash payments are recorded on the _______________ of the Cash Book.
  25. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  26. Which of the following events is not a transaction?
  27. An expenditure intended to benefit the current period is revenue expenditure.
  28. Choose the odd one out
  29. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  30. All events are transactions but all transactions are not events.