ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$13, 000 car loan
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$300 cash on hand
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$5, 000 dinette set
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$1, 000 in savings account
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Detailed explanation-1: -A Fixed Assets Register (FA Register) is a register which shows all the permanent assets owned by an organization. The register shows the quantity and value of things like chairs, tables, fans, furniture, vehicles, land, buildings etc. It may also show where these assets are kept or used.
Detailed explanation-2: -A concern can purchase a capital asset in cash only upto 10, 000. No transaction of sale/ purchase above Rs. 2 Lakhs can be made in cash. Any payment for revenue expenditure can be made in cash only upto 10, 000 in aggregate to a person in a day.
Detailed explanation-3: -Assets include physical items such as machinery, property, raw materials and inventory, and intangible items like patents, royalties and other intellectual property.