Accounting practise questions for Unit 1

14 Responses | Created by ChrisA |
  1. 1

    Which of the following is NOT a characteristic of corporation?

  2. 2

    Which of the following are all internal users

  3. 3

    These all are wrote in the credit side while increasing

  4. 4

    Income statement includes information about

  5. 5

    Double entry accounting states that

  6. 6

    Business entity concept states that

  7. 7

    Which is the sixth step in the accounting cycle?

  8. 8

    Which is the right order of righting assets in balance sheet?

  9. 9

    how many steps are there in a Journal Entry?

  10. 10

    Which one is right from the following if building is being bought and partly being paid by cash and the other part is left to be paid after

  11. 11

    According to the cost prinsiple

  12. 12

    Sole proprietorship

  13. 13

    Equipment and Liabilities are

  14. 14

    How is revenue effecting owner's equity?

  15. 15

    The net income occurs when

  16. 16

    What is name of the principle that states that each expense related to revenue earned must be recoede in the same accounting period as the revenue it helped to earn

  17. 17

    unearned revenue is written as

  18. 18

    Which accounts are affected if the owner receives a bill for paying an apartment expense for next week

  19. 19

    which is possible to be an account number of wages expense?

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