A. Liabilities
B. Revenues
C. Expenses
D. Assets
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Related Mcqs:
- The portion of the acquisition cost of the asset yet to be allocated is known as___________?
- A. Written down value B. Accumulated value C. Salvage value D. Residual Value...
- Which of the following accounts will be debited if the business’s owner withdraws cash from business for his personal use?
- A. Drawings B. Cash C. Business D. Stock...
- Outstanding salaries is shown as___________?
- A. An Asset in the Balance Sheet B. A Liability C. By adjusting it in the P & L A/c D. Both B. and C. above...
- The total cost incurred in the operation of a business undertaking other than the cost of manufacturing and production is known as________?
- A. Direct cost B. Variable cost C. Commercial cost D. Conversion cost...
- The amount invested by the proprietor to start the business is called:
- A. Capital B. Business C. Drawings D. All of them...
- When goods, in which business deals are sold, it is called___________?
- A. Purchases B. Return inward C. Sales D. Return outwards...
- Cash brought by the owner to start business is called__________?
- A. Capital B. Loan C. Drawing D. None of these...
- In support of business transaction, any written evidence is called ___________?
- A. Discount B. Voucher C. Allowance D. Price...
- For the business, capital is ____________?
- A. Expense B. Liability C. financial assets D. All of them...
- If the business’s owner withdraws cash for his/her personal use what will be the effect on capital?
- A. Increase in capital B. Remain the same C. Decrease in capital D. No effect on capital...
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The correct answer to the question: "Obligation of the Business are known as___________?" is "Liabilities".