Current and non current asset

Question 1

Current asset

Answer 1

Settled in 12 month cycle, are used for trading and involved in operating cycle, are generally cash or cash equivalents

Question 2

Cash and cash equivalents

Answer 2

Current asset

Question 3

Short term loans or advances

Answer 3

Current asset

Question 4

Current investment

Answer 4

Current asset

Question 5

Inventories

Answer 5

Current asset

Question 6

Trade receivables

Answer 6

Current asset

Question 7

Non current asset

Answer 7

Not settled in 12 months cycle

Question 8

Fixed asset (tangible, intangible, capital work-in progress, intangible assets under development)

Answer 8

Non current asset

Question 9

Non current investment

Answer 9

Non current asset

Question 10

Deferred tax asset

Answer 10

Non current asset

Question 11

Long term loans and advances

Answer 11

Non current asset

Question 12

Vehicle

Answer 12

Tangible asset

Question 13

Goodwill

Answer 13

Intangible asset

Question 14

Patents

Answer 14

Intangible asset

Question 15

Brand recognition

Answer 15

Intangible asset

Question 16

Trademark

Answer 16

Intangible asset

Question 17

Furniture

Answer 17

Tangible asset

Question 18

Building

Answer 18

Tangible asset

Question 19

Air conditioner

Answer 19

Tangible asset

Question 20

Current liabilities

Answer 20

Settled in 12 months cycle

Question 21

Non current liabilities

Answer 21

Is not settled in 12 months cycle

Question 22

Trade payable

Answer 22

Current liability

Question 23

Short term borrowing

Answer 23

Current liability

Question 24

Short term provisions

Answer 24

Current liability

Question 25

Deferred tax liability

Answer 25

Non current

Question 26

Long term borrowing

Answer 26

Non current

Question 27

What is expenditure

Answer 27

Spending money or incurring a liability for some benefit, service or property received

Question 28

Revenue expenditure

Answer 28

Benefit exhausted within a year

Question 29

Capital expenditure

Answer 29

Benefit lasts for more than one year

Question 30

Machinery

Answer 30

Capital expenditure

Question 31

Debt financing

Answer 31

Capital expenditure

Question 32

Equity financing

Answer 32

Capital expenditure

Question 33

Salaries, rent

Answer 33

Revenue expenditure