The Basic accounting equation is___________?

Related Mcqs:

Bookkeeping mainly concerns with which part of accounting process?

A. Analyzing B. Preparing financial statements C. Recording financial information D. Auditing the books of accounts...

If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?

A. $5000 B. $10,000 C. $15,000 D. $20,000...

Closing stock is generally valued at______________?

A. Cost Price B. Market Price C. Cost price or Market price whichever is higher D. Cost price or Market price whichever is lower...

Any donation received for a specific purpose is a_________?

A. Liability B. Assets C. Revenue receipts D. Capital receipts...

Which of the following relationships is/are false?

A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...