A. Cash flow statement
B. Income statement
C. Statement of changes in equity
D. Statement of financial position
Advertisement
Related Mcqs:
- Which of the following can be considered as the most important phase of accounting cycle and it is the primarily objective of financial accounting?
- A. Identifying transactions B. Preparing “T Accounts” C. Preparing financial statements D. Preparing trial balances...
- The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is_________?
- A. Depreciation B. Physical deterioration of the asset C. Decrease in market value of the asset D. Valuation of an asset at a point of time...
- Average Accounting Return is a measure of accounting profit relative to:
- A. Book value B. Intrinsic value C. Cost D. Market value...
- Which of the following accounting equation is correct?
- A. Cash+Other assets=Capital-Liabilities B. Capital+ Liabilities=Assets+Income C. Assets-Liabilities=Capital D. Assets+Capital=Liabilities...
- What is the basic accounting equation?
- A. Capital+Liabilities=Assets B. Assets+ liabilities =Capital C. Capital+assets=liabilities D. Liabilities+Capital...
- The Basic accounting equation is___________?
- A. Asset=Expense +Income B. Assets=Cash+Capital C. Assets=Capital+Liabilities D. Assets=Expenses+Capital...
- Which of the following methods is not a practical way of realizing revenue?
- A. Delivery method B. Percentage-of-completion method C. Production method D. Moving average method...
- Financial accounting provides financial information to all of the following external users except:
- A. Government agencies B. investors C. Creditors D. Managers...
- Which of the following accounts are closed at the end of an accounting period?
- A. Nominal accounts B. Balance sheet accounts C. Real accounts D. None of them...
- Which of the following statement is considered as the accountant’s snapshot of firm’s accounting value as of a particular date?
- A. Income Statement B. Balance Sheet C. Cash Flow Statement D. Retained Earning Statement...
Advertisement
The correct answer to the question: "Which of the following is the practical implementation of the accounting equation?" is "Statement of financial position".
