accounting equation
Quiz
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Other
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11th Grade
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Practice Problem
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Medium
Deepak ADDA
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20 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The Accounting Equation must always be in balance?
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Purchases from a supplier on credit is a liability.
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The company purchases land by paying half in cash and signing a note payable for the other half..What is the effect on accounting equation?
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The company purchases land by paying half in cash and signing a note payable for the other half..What is the effect on accounting equation?
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Goods Purchased on credit will increase the
Liability
Capital
Debtor
Drawings
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Additional capital introduced in the business will increase..................... and .....................
Liabilites and capital
Land and Capital
Assets and Capital
Assets and Liabilities
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Difference between Assets and Liabilities is
Liabilities
Cash
Capital
Drawings
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