Attendence Marks

If asset increases by $15, 000, liability decrease by $5,000, what is the change in owner equity?

• increase by $20,000

• decrease by $20,000

• increase by $10,000

• decrease by $10,000

Which of the following accounts are affected when the owner withdraw cash from company

• Account receivable and drawing

• Cash and drawing

• no account is affected

• only drawing

Which of the following is not a souce of document used to record transaction?

• Credit note

• Debit note

• Invoice

• Receipt

Which of the following transactions will decrease the total assets of the company?

• Payment recieved from suppliers

• Payment recieved from customer

• Purchase an inventory by cash

• Purchase a car on credit

What transaction is represented by the following entry?
Dr Purcase

Cr Trade Payable

• Purchase inventory on credit

• Purchase fixed assets on credit

• Pay Utility expense

• Recieved payment from supplier