If the total liabilities of a business decrease by $5000 what will be the effect on total asset?

Related Mcqs:

Which of the following will affect the agreement of a trial balance?

A. Complete omission of a transaction B. Partial omission of a transaction C. Error of principle D. Compensating errors...

Financial statements differ from management account because

A. They are mainly prepared for external users of financial information B. They are more complex and hard to prepare C. The are the summary of accounting data D. The are prepared on basis of actual concept...

If unexpired insurance appears in the Trial Balance, it should be:

A. Credited to the Profit & Loss Account B. Debited to the Profit & Loss Account C. Shown on the liabilities side of the Balance Sheet D. Shown on the assets side of the Balance Sheet...

A Bill of Exchange is drawn on 1st April, 2018 payable after 3 months. The due date of the bill is?

A. 30th June,2018 B. 1st July,2018 C. 4th July,2018 D. 4th August,2018...

If the asset turnover and profit margin of a company are 1.85 and 0.35 respectively, the return on investment is.

A. 0.65 B. 0.35 C. 1.50 D. 5.29...