A. Drawings
B. Cash
C. Business
D. Stock
Correct Answer: Drawings ✔
Last Updated: July 30, 2017
Related MCQs
- Which of the following will be debited if a business purchases goods on credit?
- _________ is the evidence that a transaction took place?
- Discount allowed is__________?
- Goods returned by customer should be debited to which of the following accounts?
- he term 2/10-n/30 implies that ______ % discount will be given if the payment is made within days or full amount is receivable within 30 days?
- A journal entry in which two or more account is debited or credited is referred as__________?
- The other name of journal is__________?
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- Every business transaction affects at least ________ accounts?
- 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=__________?
- Current assets – Current liabilities=?
- An increase in provision for bad debt will__________?
- Depreciation decreases__________?
- If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
- Which of following best describes the increase in equity expands__________?
- Cash received for services rendered will__________?
- Fresh capital introduction will increase__________?
- Which of the following accounting equation is correct?
- Which of the following is the practical implementation of the accounting equation?
- Payment of expenses will ______ the assets
- Collection of account receivable will
- Net income equal to Revenues minus__________?
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- 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__________?
- Capital increases if _________ increases?
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- The Basic accounting equation is__________?
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- Which of the following is a real account?
- __________ helps business to classify transactions according to their nature?
- 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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