Accounting & Auditing
______ is the residual interest of owners in assets over liabilities.
Open this question (full page)
A business event which can be measured in terms of money and must be recorded in books of accounts is called:
Open this question (full page)
Treasury bills (T-bills) are issued by government to—–money.
Open this question (full page)
A business entity has owner’s equity of Rs. 40,000 and liabilities of Rs. 25,000 its assets are—–:
Open this question (full page)
Salaries paid to partners is an:
Open this question (full page)
Total income received is____________________?
Open this question (full page)
A business event measurable in money is called:
Open this question (full page)
_______ states that “anticipate no profits but provide for all possible losses.”
Open this question (full page)
The following is also known as external internal equity ratio.
Open this question (full page)