191. Those liabilities which arise only on the happening of some event are called
A. Current liabilities
B. Outstanding liabilities
C. Contingent liabilities
D. Fixed liabilities

192. Marshalling of balance sheet means
A. The ordering of its assets and liabilities
B. The totaling of its assets and liabilities
C. Excess of assets over liabilities
D. None of these

193. Which one of the following is not considered the permanent part of the accounting record
A. Journal
B. Trial Balance
C. Balance sheet
D. Final accounts

194. The provision for discount on creditors is often not provided in keeping with the principle of
A. Materiality
B. Consistency
C. Conservatism
D. Realization

195. The capital receipts are shown in the balance sheet on the
A.Liability
B. Asset side
C. Debit side
D. None of these

196. Error due to wrong allocation as expenditure between capital and revenue is regarded as
A. Error of omission
B. Error of principle
C. Compensation errors
D. None of these

197. Which of the following is least important as a measure of short term liquidity
A.Debtor ratio
B. Current ratio
C. Cash flow from operating activities
D. Quick ratio

198. The cost of goods and services used up in the process of obtaining revenue are called
A. Net income
B. Revenue
C. Liabilities
D. Expenses
E. None of these

199. Which of the following is not an intangible asset?
A. An investment in marketable securities
B. A trademark
C. A patent
D. None of these

200. In projecting the future profitability of a trading company, investors will be least concerned with changes in
A. The gross profit rate
B. The quick ratio
C. Sales volume
D. None of these