menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Financial Accounting
  4. Exam
    Exam 23: Accounting Concepts and Practices
  5. Question
    Gross Assets - Liabilities Will Be Equal to
Solved

Gross Assets - Liabilities Will Be Equal to

Question 21

Question 21

Multiple Choice

Gross assets - liabilities will be equal to


A) Net assets
B) Total assets
C) Capital
D) Net liabilities

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q16: In non - profit organizations excess of

Q17: Accounting records transactions in term of<br>A)Commodity units<br>B)Production

Q18: Machinery purchased on account is recorded in<br>A)Journal<br>B)Ledger<br>C)Purchase

Q19: Sales ledger contains accounts of<br>A)Suppliers<br>B)Customers<br>C)Total sales<br>D)All the

Q20: Cost of goods sold plus selling expenses

Q22: In accounting only _ discount is recorded<br>A)Trade<br>B)Cash<br>C)Real<br>D)None

Q23: Double entry system was propounded by<br>A)Chanakya<br>B)Lee<br>C)Confucius<br>D)Luca Pacioli

Q24: Discount on issue of share is<br>A)Capital loss<br>B)Revenue

Q25: Trial balance will detect<br>A)Errors of commission<br>B)Errors of

Q26: Credit note is sent by<br>A)Seller<br>B)Customer<br>C)Buyer<br>D)Borrower

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines