Accounting Elements

What is the accounting element for 
Fixtures & fittings

• Assets
• Liability
• Equity
• Income

What is another word for goods?

• Land

• Property

• Accounts Receivable

• Inventory

What is the accounting element for
Capital

• Assets
• Liabilities
• Equity
• Income

What is the accounting element for Accounts Receivable

• Assets

• Liabilities

• Equity

• Income

What is the accounting element for  Accounts Payable

• Asset

• Liability

• Expense

• Equity

Candy sold goods to a customer who paid later. This is a:

• Cash transaction

• Credit transaction

Motor vehicle is a _______

• Asset

• Liability

• Income

• Expense

• Equity

Sales revenue is a _______

• Asset

• Liability

• Income

• Expense

• Equity

Discount received is a _______

• Asset

• Liability

• Income

• Expense

• Equity

Loan from bank is a _______

• Asset

• Liability

• Income

• Expense

• Equity