Assets-Liabilities=____________?

Related Mcqs:

1. If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?

   A. $5000
   B. $10,000
   C. $15,000
   D. $20,000

2. The excess of current assets over current liabilities is called:

   A. Working Capital
   B. Circulating capital
   C. Fixed capital
   D. Trading capital

3. The real accounts are accounts of Assets, liabilities and ___________?

   A. Expenses
   B. Revenues
   C. Capital
   D. Drawing

4. Find out the value of assets if: Liabilities=$5000 and Capital=$1000

   A. $4000
   B. $6000
   C. $7000
   D. $3000

5. Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000

   A. $6000
   B. $10,000
   C. $5000
   D. $1000

6. Current assets – Current liabilities=?

   A. Capital
   B. Absorbed capital
   C. Net assets
   D. Net working capital

7. Liabilities are which of the following?

   A. Resources
   B. Obligations
   C. Future benefits
   D. Expenses

8. If the total liabilities of a business decrease by $5000 what will be the effect on total asset?

   (assuming the amount of capital remain same)

   A. Remain constant
   B. Decrease by $5000
   C. Increase by $5000
   D. Increase by $10,000

9. If a company has contingent liabilities, they appear in the__________?

   A. Balance Sheet
   B. Directors‘ report
   C. Notes on account to Balance Sheet
   D. Chairman‘s report

   Contingent liabilities are disclosed in the notes to Balance Sheet

10. Based on which of the following concepts, is Share Capital Account shown on the liabilities side of a Balance Sheet?

    A. Business entity concept
    B. Money measurement concept
    C. Going concern concept
    D. Matching concept