Multiple Choice
The accounting equation can be stated as:
A) Owner's Equity = Assets - Liabilities
B) Assets + Liabilities = Owner's Equity
C) Liabilities = Owner's Equity + Assets
D) Assets = Liabilities - Owner's Equity
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Which of the following statements is correct?<br>A)
Q11: If a company has long-term borrowings of
Q12: Which of the following statements is correct?<br>A)
Q13: The main purpose of financial accounting information
Q14: Inventory,trade receivables and cash are classified as:<br>A)
Q16: Revenue from sales decrease assets and decrease
Q17: Non-current liabilities include long-term borrowings such as
Q18: Corporation tax payable would be classified as:<br>A)
Q19: Non-current assets include inventories and trade receivables.
Q20: If non-current assets are £250,000,current assets £70,000,long-term