Other, Business

11th

grade

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Accounting MCQ 1

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15 questions

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  • 1. Multiple Choice
    2 minutes
    1 pt

    Which group contains only liabilities?

    bank loan, trade payables, prepaid rent

    bank overdraft, trade payables, unpaid wages

    trade payables, cash at bank, unpaid rates

    trade payables, inventory, unpaid wages

  • 2. Multiple Choice
    2 minutes
    1 pt

    What is the accounting equation?

    assets – liabilities = capital

    assets + liabilities = capital

    liabilities – assets = capital

    liabilities – capital = assets

  • 3. Multiple Choice
    2 minutes
    1 pt

    Omar returned faulty goods to Yasmin, the supplier.

    Which document did Omar send to Yasmin?

    credit note

    debit note

    Invoice

    statement of account

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