Question : It refer to those assets which remain in the business for a period more than one year. Which type of asset is highlighted in the given statement?
 

Option 1: Current assets

Option 2: Fixed assets

Option 3: Tangible assets

Option 4: Intangible assets

Question : These assets provide little or low return. Which type of asset is highlighted in the given statement?

Option 1: Fixed asset

Option 2: Tangible asset

Option 3: Current asset

Option 4: Intangible asset

Question : ---------------- are the assets which are likely to be converted into cash or cash equivalents within 12 months from the date of the Balance Sheet or within the period of an operating cycle. 

Option 1: Liquid Assets 

Option 2: Current Assets 

Option 3: Current liabilities 

Option 4: Total Assets 

Question : ---------------- are the assets which are likely to be converted into cash or cash equivalents within 12 months from the date of the Balance Sheet or within the period of an operating cycle. 

Option 1: Liquid Assets 

Option 2: Current Assets 

Option 3: Current liabilities 

Option 4: Total Assets 

Question : Which of the following statements is incorrect?

Option 1: The quick ratio indicates whether the firm is in a position to pay its current liabilities within a month or immediately.

Option 2: The quick ratio is calculated by dividing liquid assets (Quick Current Assets) by current liabilities.

Option 3: 'Liquid assets' means those assets which will be converted into cash and cash equivalents very shortly.

Option 4: None of the above