Financial Accounting
A cash purchase of supplies would:
Decrease owner’s equity
Increase liabilities
Have no effect on total assets
None of these
Have no effect on total assets
Related posts
Bill of exchange is a conventent method for the transfer of:A. Cash
B. Goods
C. Debt
D. Investment
When noting charges are paid at the time of dishonour of the bill, the drawee always debits:
A. Noting charges account
B. Interest account
C. Discount account
D. Drawer’s account
The particular column in journal form is the column for:
A. Account title and description
B. Account title and date
C. Amount
D. Date
The income statement has normally.
A. One part
B. Two parts
C. Three parts
D. Four parts
Stock in trade is:
A. A current Asset
B. A fixed Asset
C. An intangible Asset
D. A wasting Asset
The word “By ” is used with an account while making posting on:
A. Debit Side of an account
B. Credit side of an account
C. Both sides of an account
D. None of the above
Expenses relating to sale of goods are shown in:
A. Trading Account
B. Profit and Loss Account
C. Balance sheet
D. Sales Account
4 responses to “A cash purchase of supplies would:”
-
Correct Answer: Decrease owner’s equity
-
corrected. check out my new website for accouting MCQs:
https://quizmcqs.com/subject/accounting/
-
-
A cash purchase of supplies would
Admin please correct the answer
Correct answer is C. Have no effect on total assets-
corrected. thanks for pointing out
-
Leave a Reply