Accounting MCQs

1590 MCQs  (Page 13 of 159)

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Find out the value of assets if: Liabilities=$5000 and Capital=$1000
A. $4000
B. $6000
C. $7000
D. $3000
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Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
A. $6000
B. $10,000
C. $5000
D. $1000
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Capital increases if _________ increases?
A. Expenses
B. Drawings
C. Interest on capital
D. Revenue
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If the total liabilities of a business decrease by $5000 what will be the effect on total asset?
A. (assuming the amount of capital remain same)
B.
C.
D. none of these
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If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
A. Increase in capital
B. Remain the same
C. Decrease in capital
D. No effect on capital
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Net income equal to Revenues minus____________?
A. gains
B. depreciation
C. expenses
D. capital expenditures
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Collection of account receivable will
A. Increase assets and decrease assets
B. Increase assets and decrease liabilities
C. Increase assets and increase capital
D. Increase assets and increase cash
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Payment of expenses will ______ the assets
A. Increase
B. Reduce
C. Apportion
D. Overstate
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Which of the following is the practical implementation of the accounting equation?
A. Cash flow statement
B. Income statement
C. Statement of changes in equity
D. Statement of financial position
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Which of the following accounting equation is correct?
A. Cash+other assets=capital-liabilities
B. Capital+ liabilities=assets+income
C. Assets-liabilities=capital
D. Assets+capital=liabilities
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Word of the Day
11 Jul
Envisage
contemplate or conceive of as a possibility or a desirable future event.
گمان کرنا، تصور کرنا، سوچنا

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