Balance Sheet

Quiz
•
Other
•
University
•
Hard
HAZWANI AZAM
Used 19+ times
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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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