Accounting Pillars (1-10)

Which of the following is an identifiable non-monetary asset without physical substance?

Circulating asset

Tangible asset

Floating asset

Intangible asset

Correct! Wrong!

All of the following are Liabilities except?

Wages outstanding

Income Receivable

None of given options

Note Payables

Correct! Wrong!

Economic resources of business that expected to be of benefit in future time referred as?

Liabilities

Owner Equity

Asset

Withdrawals

Correct! Wrong!

All of following are Expenses except?

Carriage

Rent Payable

Salaries

Wages

Correct! Wrong!

All economics costs that a business incur through its operation to earn revenues?

Assets

Expense

Revenue

Drawing

Correct! Wrong!

Residual interest in the net asset of an entity that remains after deducting its liabilities is?

Liabilities

Asset

Expense

Owner Equity

Correct! Wrong!

Liabilities are?

Equal to the sum of assets plus owner’s equity?

All of given options

Obligation of the entity to outsiders

Created when stockholder contributed cash to company by stock exchanges

Correct! Wrong!

All of following are Assets except?

Bill Receivable

Prepaid Rent

Account Receivable

Unearned Income

Correct! Wrong!

Which of the following item of revenue nature?

Rent incur

Dividends payable

Payment for building improvement

Fee earned

Correct! Wrong!

Revenue?

Is an increase in shareholders’ equity?

Has no impact on shareholders’ equity

Is a decrease in shareholders’ equity

Is cost of business

Correct! Wrong!

Accounting Pillars (1-10)

Super Excellent ***

Excellent ***

Very Good **

Good *

Fair

Fail

Which of the following is an identifiable non-monetary asset without physical substance?

All of the following are Liabilities except?

Economic resources of business that expected to be of benefit in future time referred as?

All of following are Expenses except?

All economics costs that a business incur through its operation to earn revenues?

Residual interest in the net asset of an entity that remains after deducting its liabilities is?

Liabilities are?

All of following are Assets except?

Which of the following item of revenue nature?

Revenue?

Search