i. Goodwill is ________ asset.  (a) Tangible  (b) Current  (c) an intangible  (d) None of these

Select the most appropriate alternatives from those given below and rewrite the statement:

i. Goodwill is ________ asset. 

(a) Tangible 

(b) Current 

(c) an intangible 

(d) None of these

ii. Prepaid expenses is ________ account. 

(a) Real 

(b) Personal 

(c) Nominal 

(d) Income

iii. Debit the receiver, Credit the _______ 

(a) Goes out 

(b) Giver 

(c) Income and gains 

(d) Comes in

iv. Debit what comes in, Credit what __________

(a) Giver

(b) Expenses and losses 

(c) Goes out 

(d) Income and gains

v. Debit all ________and Credit all income and gains. 

(a) Giver 

(b) Expenses and losses 

(c) Goes out 

(d) None of these