EMS0925

Valuable possessions of the business is called________

• Owner’s Equity

• Assets

• Capital

• Liabilities

A payment card that deducts money directly from a consumer's account when it is used.

• Debit Card

• Credit Card

Money or any other Assets taken by the owner from the business for person or family use is called ______

• Capital

• Fixed deposit

• Drawings

When the owner contributes capital towards the business the transaction is recorded in the __________

• Cash Payments Journal

• Debtors Journal

• Debtors Allowances Journal

• Cash Receipts Journal

When someone rents a building from you and pays you rent income every month the transactions will be recorded in the _______

• Debtors Journal

• Cash Payments Journal

• Cash Receipts Journal

• Debtors Allowance Journal

An increase on the debit side (DR+) and decrease on the credit side (CR-)

An increases equity on the credit side (CR+)

An increase on the credit side (CR+) and decrease on the debit side (DR-)

How does the purchase of a grass cutting machine for R9 500 from Makro affect the accounting equation

• Assets - and Liabilities +

• Assets - and Owners Equity +

• Assets - and Assets +

How does the sales of goods on credit affect the accounting equation

• Assets + and Owners' Equity +

• Assets + and Liabilities +

• Assets + and Assets +