Accounting Mcqs

Q.  An asset posses which of the following?

a. Future economic benefits for the business
b. All kind of benefits for the business
c. Expenses for the business
d. Merits and Demerits for the business


ANSWER: See Answer
 
No explanation is available for this question!
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MCQs:  _________ will be credited if goods are given as charity?
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MCQs:  Which of the following is known as the base for preparing trial balance?
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MCQs:  If debit balance is greater than creadit balance then the account blance will be__________?
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MCQs:  The normal balance of liability account is____________?
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MCQs:  Revenue and expense accounts are referred as______________?
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MCQs:  The real accounts are accounts of Assets, liabilities and ___________?
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MCQs:  Building account is classified as _________ account?
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MCQs:  Office equipments account is classified as _________ account?
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MCQs:  ___________ helps business to classify transactions according to their nature?
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MCQs:  Which of the following is a real account?
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MCQs:  Which of the following accounts are closed at the end of an accounting period?
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MCQs:  Which of the following is the closing balance of a ledger account?
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MCQs:  The Basic accounting equation is___________?
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MCQs:  Find out the value of assets if: Liabilities=$5000 and Capital=$1000
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MCQs:  Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
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MCQs:  Capital increases if _________ increases?
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