No products in the cart.

  1. Homework Help
  2. CBSE
  3. Class 11
  4. Accountancy

Difference between assets and goods on …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Install Now
Difference between assets and goods on the basis of any 5 points ?

    • Posted by Madhvi Chhoker 4 years, 6 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Sia ? 4 years, 6 months ago

    (i) Goods are purchased for resale whereas assets are held for continued use in the business.
    (ii) Goods are alwasys tangible i.e., they can be seen and touched whereas assets may be both tangible and intangible.

    3Thank You

    ANSWER
    https://examin8.com Test

    Related Questions

    Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.

    • Posted by Arya Patel 2 months, 4 weeks ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    Features of accounting ?

    • Posted by Soumyajit Patnaik 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    Paid cash to kamlesh rs 15000

    • Posted by Alok Bhartiya 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers
    Illustration 62. Given below is the Balance Sheet of Krishna & Suresh who are partners in a firm sharing profits in the ratio of 3 : 2: Liabilities Amount Creditors Bank Overdraft Investment Fluctuation Fund Contingency Reserve Capital A/c : Krishna Suresh 30,000 20,000 21,000 2,000 6,000 5,000 50,000 84,000 Assets Plant Patents Furniture Investments (Market value Stock Debtors Cash 14,000) Amount (₹) 30,000 5,000 3,000 15,000 13,000 17,000 1,000 84,000 Mohan is admitted as a partner for 1/5th share on the following terms: (a) He is to contribute 14,000 as his share of capital which includes his share of premium for goodwill. (b) Goodwill is valued at 2 years' purchase of the average profits of the last 4 years, which were 10,000; 9,000; 8,000 and 13,000 respectively. (c) Plant to be written down to 25,000 and patents written up by * 8,000. Prepare the Revaluation Account, Partners' Capital Account and the Balance Sheet of the new firm.​

    • Posted by Arya Patel 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    What is bad depts and how we can show in journal and ledger

    • Posted by Arun Arun 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 2 answers
    Goods of the selling price of 3000 are further withdrawn by Sonia for personal use 20% of cost is added to fix up the selling price

    • Posted by Prabhdeep Mall 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    Started business with cash RS 90000 stock 30,000 Purchase परचेज फर्नीचर परचेज फर्नीचर फॉर कैश फॉर कैश 15000 में चेक पैड कैरिंग चार्ज रुपीस 1000 इन कैश सोल 1 की 2 का अबोव स्टॉक तो राम ऑन क्रेडिट रिसीव फ्रॉम राम आफ्टर ए डिस्काउंट का 200 रेंट पैड रुपीस 7000 आउट ऑफ़ व्हिच 2000 इस प्रिपेयर्ड

    • Posted by Anirudh Sarkar 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers
    Chapter 3 question number 21

    • Posted by Ansh Dwivedi 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers
    Show the Accounting equation for the following transaction (i)Gopinath started business with cash

    • Posted by Garima Gaur 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers
    Accounting equation practical problem so Accounts

    • Posted by Garima Gaur 1 year, 4 months ago

    CBSE > Class 11 > Accountancy
    • 0 answers

    myCBSEguide App

    myCBSEguide

    Trusted by 1 Crore+ Students

    Install Now

    Test Generator

    Test Generator

    Create papers online. It's FREE.

    Try Now

    CUET Mock Tests

    CUET Mock Tests

    75,000+ questions to practice only on myCBSEguide app

    Install Now
    Google Play

    Download myCBSEguide App

    All Courses

    Other Websites

    CBSE Courses

    Resources

    Corporate

    NCERT Solutions

    CBSE Sample Papers

    All Content and Intellectual Property is under Copyright Protection | myCBSEguide.com ©2007-2025