Balance Sheet

Balance Sheet

University

15 Qs

quiz-placeholder

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Balance Sheet

Balance Sheet

Assessment

Quiz

Other

University

Hard

Created by

HAZWANI AZAM

Used 19+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following can be classified as an intangible asset?

Accounts receivable

Trademark

Goodwill

Marketable securities

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statement is INCORRECT?

Asset - Equity = Liabilities

Liabilities + Equity = Assets

Assets - Liabilities = Equity

Liabilities + Assets = Equity

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following transaction is NOT a revenue?

Performed a services worth RM3,000 on credit for Aliff and further services worth RM5,500 cash

Purchased RM6,000 worth of drying fuel and RM3,000 worth of machinery lubricants

Received subsidy of RM7,000 and interest of RM4,000

Sold RM9,000 worth of grain crops for cash and a small tractor costing RM12,000 for RM20,000

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Which of the following is NOT an example of owner's equity?

Retained earnings

Machinery

Common stock

Plants and equipments

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Balance sheet summarizes the __________ of the business at a point in time

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

______ measures the ability of the business to meet current financial obligations as they come due without disrupting normal business

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following does not affecting the owner's equity?

purchase of fixed asset

change in value of asset

the business has profit or loss

owner invest more money or withdraws money from business

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