Liabilities are which of the following?

Related Mcqs:

Which of the following specialised journals will record “goods returned by the BUSINESS “?

A. Purchase journal B. Sales journal C. Purchases return journal D. Sales return journal...

What is equity?

A. Cash from the business B. liability of a business C. Owner’s claim on total assets D. Owner’s claim on total liabilities...

Depreciation decreases____________?

A. Liabilities B. Cash C. Bank D. Capital...

Which of the following is true?

A. Error of casting affects personal accounts B. Omission of a transaction from a subsidiary record affects only one account C. Error of carry forward affects two accounts D. Error of principle involves an incorrect allocation of expenditure or receipt between capital and revenue...

Which of these types of expenditure would not be treated as a Capital Expenditure?

A. Acquisition of an Asset B. Extension of an Asset C. Improvement of the existing Asset D. Maintenance of the Asset...