A. One
B. Two
C. Three
D. Infinite
Correct Answer: Two ✔
Last Updated: July 30, 2017
Related MCQs
- The process of recording transactions in different journals is called_________?
- General journal is a book of _______ entries?
- The process of recording is done?
- Assets-Liabilities=__________?
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- An increase in provision for bad debt will__________?
- Depreciation decreases__________?
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- Which of the following accounting equation is correct?
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- Collection of account receivable will
- Net income equal to Revenues minus__________?
- If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
- If the total liabilities of a business decrease by $5000 what will be the effect on total asset?
- Capital of a business decreases if there is an increase in__________?
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- Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
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- The Basic accounting equation is__________?
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- Which of the following is a real account?
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- Office equipments account is classified as _________ account?
- Building account is classified as _________ account?
- The real accounts are accounts of Assets, liabilities and __________?
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- The normal balance of liability account is__________?
- The normal balance of asset account is__________?
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