Accounting MCQ Questions and Solutions with Explanations

46.
Identify the asset from the following

A. Cash and cash equivalent

B. Creditors

C. Notes payable

D. Bank loan

A. Depreciation

B. Drawings

C. Outflow of cash

D. Appreciation

A. Expenses are greater than income

B. Expenses are less than income

C. Expenses = Income

D. Liabilities are greater than income

A. Recording entries in Journal

B. Recording entries in Ledger account

C. Recording two aspects of every transaction

D. Recording every transaction in books

A. Machinery account

B. Building account

C. Creditors account

D. Rent expenses account

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