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Accounting MCQs

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Question 37medium
______ is a separate legal entity whose total capital can be divided into many shares
Question 38hard
An asset possesses which of the following?
Question 39easy
Liabilities are which of the following?
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Question 40hard
_______ is the gross inflow of economic benefits
Question 41hard
An asset must be ________ by the business to be shown as an asset in its balance sheet.
Question 42medium
Which is the most important characteristic that all assets of a business have?
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Question 43hard
What is the basic accounting equation?
Question 44hard
Which of the following is a liability?
Question 45hard
What is equity?