
Accounting equation
Authored by Mila Mallare
Other
11th Grade
Used 9+ times

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23 questions
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1.
FILL IN THE BLANK QUESTION
30 sec • 5 pts
if capital is added in the business it will____________ the asset side
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following equations correctly expresses the relationship between assets (A), liabilities (L), revenues (R), expenses (E) and capital (C)?
A = L + R + E + C
A = C + L + (R-E)
A = C - (R - E) + L
A = (L - C) + (R - E)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Additional capital introduced in the business will increase..................... and .....................
Liabilites and capital
Land and Capital
Assets and Capital
Assets and Liabilities
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
which of the following will cause owner"s equity increase ?
Expense
Owner Drawee
Revenue
Loss
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The liability of form h 4000 the capital of proprietor is 8000 the total assets are
8000
4000
12000
None of these
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If the assets of a business are Rs . 100,000 and equity is Rs. 20,000, the value of liability will be
Rs 100,000
Rs 80,000
Rs 120,000
Rs. 20,000
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Assets and liabilities increase when the company purchases supplies on account
True
False
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