business, balance sheets and assets, Accounting Questions

A business is considered to as a diversified business or a conglomerate if it works in
- a) many unrelated industries
- b) one single major industry
- c) many related industries
- d) many and varied locations throughout the world
Which of the following should be deducted in the balance sheet of a company from the share capital to find out paid up capital?
- a) Discount on issue of shares
- b) Calls – in advance
- c) Calls-in arrears
Which of the following items would not fall under the definition of an asset?
- a) Owner’s equity
- b) Machinery
- c) Land