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