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WorksheetsPAC1163
Total questions: 10
Worksheet time: 5mins
Which of the following are part of ASSET?
Trade receivable
Trade payable
Bank overdraft
Mortgage
Which of the following is considered a liability?
Property, plant, and equipment
Cash
Inventory
Accounts payable
What is included in current assets?
Deferred tax assets
Long-term investments
Cash and cash equivalents
Goodwill
Which of the following represents owner's equity?
Bank loans
Retained earnings
Trade payables
Accounts receivable
Increase in Cash should be recorded in
Credit
Debit
Increase in Drawing
Debit
Credit
Increase in Printing service revenue
Debit
Credit
Decrease in Capital
Debit
Credit
Jane Enterprise buys equipment by cash
Debit cash; Credit equipment
Debit equipment; Credit cash
Blue Enterprise buys fixture and fittings on account
Debit bank; Credit fixture and fittings
Debit fixture and fittings; Credit bank
Debit Account payable; Credit Fixture and fittings
Debit Fixture and fittings; Credit Account payable
