Economic Obligations of the Business are called?

Correct! Wrong!

Which of the following is the liability?

Correct! Wrong!

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

Correct! Wrong!

Which of the following is not an asset?

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

Correct! Wrong!

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

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Which of the following is a liability?

Correct! Wrong!

Which of the following is an expense?

Correct! Wrong!

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

Correct! Wrong!

Which of the following is a liability?

Correct! Wrong!

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

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