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Questions and Answers
Which of the following assets represent current assets?
Which of the following assets represent current assets?
- Raw material
- Cash (correct)
- Office building
- Trade receivable
In the context of accounting, what type of asset is an office building?
In the context of accounting, what type of asset is an office building?
- Tangible fixed asset (correct)
- Intangible asset
- Current asset
- Financial asset
Which of the following is an example of a fixed asset?
Which of the following is an example of a fixed asset?
- Raw material
- Cash
- Trade receivable
- Production machinery (correct)
What is the correct classification of trade receivable in terms of assets?
What is the correct classification of trade receivable in terms of assets?
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What type of asset does raw material represent?
What type of asset does raw material represent?
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In accounting, what type of asset is trade receivable?
In accounting, what type of asset is trade receivable?
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Which of the following is an example of a fixed asset?
Which of the following is an example of a fixed asset?
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When the owner buys a car for private use, how does this transaction affect the accounting equation?
When the owner buys a car for private use, how does this transaction affect the accounting equation?
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What effect does the purchase of production machinery have on the balance sheet?
What effect does the purchase of production machinery have on the balance sheet?
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