41. An asset must be ________ by the business to be shown as an asset in its balance sheet.
42. Which is the most important characteristic that all assets of a business have?
43. What is the basic accounting equation?
44. Which of the following is a liability?
45. What is equity?
46. Identify the asset from the following
47. ______ is the withdrawal of cash and goods by the owner of the business for his/her personal use
48. Net loss occurs when
49. Double entry implies that
50. Identify the nominal account
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Each Section contains maximum 100 MCQs question on Accounting. To get more questions visit other sections.
- Accounting - Section 2
- Accounting - Section 3
- Accounting - Section 4
- Accounting - Section 5
- Accounting - Section 6
- Accounting - Section 7
- Accounting - Section 8
- Accounting - Section 9
- Accounting - Section 10
- Accounting - Section 11
- Accounting - Section 12
- Accounting - Section 13
- Accounting - Section 14
- Accounting - Section 15
- Accounting - Section 16
- Accounting - Section 17
- Accounting - Section 18
- Accounting - Section 19
- Accounting - Section 20
- Accounting - Section 21
- Accounting - Section 22
- Accounting - Section 23
- Accounting - Section 24
- Accounting - Section 25