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

Liabilities

Asset

Expense

Owner Equity

Correct! Wrong!

All of the following are Liabilities except?

Income Receivable

Note Payables

None of given options

Wages outstanding

Correct! Wrong!

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

Withdrawals

Liabilities

Owner Equity

Asset

Correct! Wrong!

Which of the following item of revenue nature?

Payment for building improvement

Rent incur

Fee earned

Dividends payable

Correct! Wrong!

All of following are Expenses except?

Wages

Salaries

Carriage

Rent Payable

Correct! Wrong!

All of following are Assets except?

Bill Receivable

Unearned Income

Account Receivable

Prepaid Rent

Correct! Wrong!

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

Floating asset

Circulating asset

Intangible asset

Tangible asset

Correct! Wrong!

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

Expense

Revenue

Assets

Drawing

Correct! Wrong!

Liabilities are?

Obligation of the entity to outsiders

All of given options

Equal to the sum of assets plus owner’s equity?

Created when stockholder contributed cash to company by stock exchanges

Correct! Wrong!

Revenue?

Is a decrease in shareholders’ equity

Is an increase in shareholders’ equity?

Is cost of business

Has no impact on shareholders’ equity

Correct! Wrong!

Accounting Pillars 1-10

Super Excellent ***

Excellent ***

Very Good **

Good *

Fair

Fail

Accounting Pillars 1-10

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

All of the following are Liabilities except?

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

Which of the following item of revenue nature?

All of following are Expenses except?

All of following are Assets except?

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

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

Liabilities are?

Revenue?

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