11. The liabilities of a business are Rs. 30,000; the capital of the proprietor is Rs. 70,000. The total assets are?

Correct! Wrong!

12. Which of the following account is affected from the drawings of cash in sole-proprietorship business?

Correct! Wrong!

13. Mr. “A” borrowed money from bank; this transaction involves which one of the following accounts?

Correct! Wrong!

14. Mr. A provided the following information from his books of accounts at the end of the month. What is the amount of his capital?

Correct! Wrong!

15. Which of the following accounts will be used in equation, if the goods are sold on credit to Mr. Mahmood?

Correct! Wrong!

16. The favorable balance of profit and loss account should be?

Correct! Wrong!

17. Which of the following is not a satisfactory statement of the balance sheet equation?

Correct! Wrong!

18. Revenue of the business includes?

Correct! Wrong!

19. Which one of the following represents the expanded basic accounting equation?

Correct! Wrong!

20. Which of the following transactions would have no impact on stockholders' equity?

Correct! Wrong!

Accounting Equation (11-20)
Super Genius ***
Excellent ***
Very Good **
Good *
Fair
Fail

Share your Results: