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Accounting Principle

Quiz by Batool Mirza

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5 questions
Show answers
  • Q1
    what is the accounting Equation ??
    Assets=liabilities +Owner Equity
    Assets=liabilities _Owner Equity
    Owner Equity= liabilities +Assets
    liabilities=Assets+Owner Equity
    30s
  • Q2
    Account Receivable is classified as
    Assets
    Expense
    Revenue
    Liabilities
    30s
  • Q3
    Rent received is classified as
    Liabilities
    Asset
    Revenue
    Expense
    30s
  • Q4
    if total Assets is BD5000,liabilities BD 2000 the owner Equity will be
    BD100000
    BD7000
    BD5000
    BD3000
    30s
  • Q5
    The normal balance of loan is
    Liabilites
    DR
    CR
    30s

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