Teaching Accountancy Accounting for Specific Business and Transactions Question Bank MCQ - Accounting for Specific Business and Transactions

  • question_answer
    Which of the following is not true with regard to fixed assets?

    A)  They are acquired for using them in the conduct of business operations

    B)  They are not meant for resale to earn profit

    C)  They can easily be converted into cash

    D)  Depreciation at specified rates is to be charged on most of the fixed assets

    Correct Answer: C


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