Accounting Pillars (1-10)

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

Asset

Expense

Liabilities

Owner Equity

Correct! Wrong!

All of following are Expenses except?

Rent Payable

Carriage

Salaries

Wages

Correct! Wrong!

Which of the following item of revenue nature?

Dividends payable

Fee earned

Payment for building improvement

Rent incur

Correct! Wrong!

All of the following are Liabilities except?

Income Receivable

Wages outstanding

Note Payables

None of given options

Correct! Wrong!

Revenue?

Is cost of business

Is an increase in shareholders’ equity?

Has no impact on shareholders’ equity

Is a decrease in shareholders’ equity

Correct! Wrong!

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

Floating asset

Intangible asset

Tangible asset

Circulating asset

Correct! Wrong!

All of following are Assets except?

Bill Receivable

Account Receivable

Prepaid Rent

Unearned Income

Correct! Wrong!

Liabilities are?

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

All of given options

Created when stockholder contributed cash to company by stock exchanges

Obligation of the entity to outsiders

Correct! Wrong!

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

Drawing

Revenue

Assets

Expense

Correct! Wrong!

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

Asset

Liabilities

Owner Equity

Withdrawals

Correct! Wrong!

Accounting Pillars (1-10)

Super Excellent ***

Excellent ***

Very Good **

Good *

Fair

Fail

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

All of following are Expenses except?

Which of the following item of revenue nature?

All of the following are Liabilities except?

Revenue?

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

All of following are Assets except?

Liabilities are?

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

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

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