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Questions and Answers
Which one of these is a liability on the Balance sheet?
Which one of these is a liability on the Balance sheet?
- Sundry Creditors (correct)
- Schandra's Drawings
- Schandra's capital
- Cash at Bank
Which one of these is an asset on the Balance sheet?
Which one of these is an asset on the Balance sheet?
- Schandra's Drawings
- Schandra's capital
- Sundry Creditors
- Cash at Bank (correct)
Which one of these is an expense item on the Profit & Loss account?
Which one of these is an expense item on the Profit & Loss account?
- Rent & taxes
- Sales
- Manufacturing wages (correct)
- Return Inwards
Which one of these is a revenue item on the Profit & Loss account?
Which one of these is a revenue item on the Profit & Loss account?
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Which one of these adjustments was made to the stock on hand?
Which one of these adjustments was made to the stock on hand?
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