1361. The debts which are repayable within a short period of time are called :

A. Long term liabilities
B. External liabilities
C. Short-term liabilities *
D. Internal liabilities

1362. Debts which are repayable in the course of a month are called:

A. Internal liabilities
B. External liabilities
C. Deferred liabilities
D. Quick liabilities *

1363. Debts which are repayable in the course of less than one year but more than one month is called :

A. Liquid and quick liabilities
B. Deferred liabilities *
C. External liabilities
D. Contingent liabilities

1364. Those liabilities which arise only on the happening of some event, are called :

A. Current liabilities
B. Contingent liabilities *
C. Outstanding liabilities
D. Fixed liabilities

1365. Outstanding expenses and unearned incomes are known as :

A. Current liabilities
B. Contingent liabilities
C. Outstanding liabilities *
D. Fixed liabilities

1366. The surplus are excess of assets over liabilities is called the :

A. Assets of proprietor
B. Liability of proprietor
C. Income of proprietor
D. Capital of proprietor *

1367. For the business concern, capital is a :

A. Liability *
B. Expense
C. Income
D. Asset

1368. The portion of the funds of a concern which is represented by the fixed and floating assets is called the :

A. Fixed capital
B. Trading capital *
C. Circulating capital
D. Working capital

1369. The portion of the funds ofa concern which is represented by the fixed assets is called the :

A. Circulating capital
B. Trading capital
C. Fixed capital *
D. Working capital

1370. The portion of the funds of a concern which is represented by the floating or circulating assets is called the :

A. Working capital
B. Fixed capital
C. Trading capital
D. Circulating capital *