Question: 1. Depreciation refers to a) Decrease in the value of Tangible Fixed Assets b) Decrease in the value of Intangible Fixed Assets c) Decrease in

1. Depreciation refers to a) Decrease in the value of Tangible Fixed Assets b) Decrease in the value of Intangible Fixed Assets c) Decrease in the natural resources d) None of the above 2. Payment of Dividend to the shareholders is categorised as a) Operating Activity b) Financing Activity c) Investment Activity d) Non Cash Financing Activity 3. Employee payroll taxes do not include: a) Federal unemployment taxes. b) State Income taxes. c) Federal income taxes. d) FICA taxes. 4. When a partner invests noncash assets in a partnership, the assets should be recorded at their a) Book value. b) Market value c) Carrying value. d) Original cost. 5. Marketable securities bought and held primarily for sale in the near term are classified as: a) Available-for-sale securities. b) Held-to-maturity securities. c) Stock securities. d) Trading securities

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