Types of Accounts MCQs

 

MCQs 1 To 10

 

1. Economic resources of business that expected to be of benefit in future time referred as?

2. Liabilities are?

3. All of following are Assets except?

4. Revenue?

5. Which of the following is an identifiable non-monetary asset without physical substance?

6. Residual interest in the net asset of an entity that remains after deducting its liabilities is?

7. All of following are Expenses except?

8. Which of the following item of revenue nature?

9. All economics costs that a business incur through its operation to earn revenues?

10. All of the following are Liabilities except?

 

 

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MCQs 11 To 20

 

11. Which of the following is not an asset?

12. What is owned by a business and used in carrying out its operating activities is best described as?

13. Which of the following is a liability?

14. Assets which have no physical existence and which cannot be seen, touched or felt are?

15. Which of the following is a liability?

16. Which of the following is an expense?

17. Which of the following is an example of an intangible asset?

18. Which of the following would not be regarded as an asset?

19. Economic Obligations of the Business are called?

20. Which of the following is the liability?

 

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