Accounting Pillars (1-10)

All of following are Assets except?

Bill Receivable

Unearned Income

Account Receivable

Prepaid Rent

Correct! Wrong!

All of the following are Liabilities except?

Income Receivable

None of given options

Wages outstanding

Note Payables

Correct! Wrong!

Revenue?

Has no impact on shareholders’ equity

Is cost of business

Is a decrease in shareholders’ equity

Is an increase in shareholders’ equity?

Correct! Wrong!

Which of the following item of revenue nature?

Dividends payable

Fee earned

Rent incur

Payment for building improvement

Correct! Wrong!

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

Intangible asset

Floating asset

Tangible asset

Circulating asset

Correct! Wrong!

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

Revenue

Assets

Drawing

Expense

Correct! Wrong!

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

Withdrawals

Asset

Liabilities

Owner Equity

Correct! Wrong!

All of following are Expenses except?

Salaries

Rent Payable

Wages

Carriage

Correct! Wrong!

Liabilities are?

Obligation of the entity to outsiders

Created when stockholder contributed cash to company by stock exchanges

All of given options

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

Correct! Wrong!

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

Expense

Asset

Owner Equity

Liabilities

Correct! Wrong!

Accounting Pillars (1-10)

Super Excellent ***

Excellent ***

Very Good **

Good *

Fair

Fail

All of following are Assets except?

All of the following are Liabilities except?

Revenue?

Which of the following item of revenue nature?

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

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?

All of following are Expenses except?

Liabilities are?

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

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