Accounting Online Quizzes Subject Knowledge

Accounting Quiz 09

Written by Muhammad Arslan

Which of the following is a liability?

Net loss occurs when______________?

Double entry implies that

What is equity?

Transferring entries from journal to ledger account is commonly known as____________?

Identify the nominal account

_______ the withdrawal of cash and goods by the owner of the busienss for his/her personal use?

Which of the following accounts can be classified as a real account?

Identify the asset from the following:

What is the basic accounting equation?

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