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