Items owned by a business that have money value are known as .
A: net assets
B: assets
C: liability
D: owner’s capital
A: net assets
B: assets
C: liability
D: owner’s capital
举一反三
- Items owned by a business that have money value are known as .
- is the interest of the owners in an enterprise. Also known as owner's equity. A: Owner's equity B: Capital C: Assets D: Liabilities
- 3.26()State<br/>whether the following are non-current assets, current assets,<br/>liabilities, capital or drawings. A: A delivery van B: Money owed to a supplier C: A mortgage owed to a bank D: Money put into the business bank by the owner of the business E: Profit made by a business F: Money owed by a customer G: Unsold goods H: Money taken from the business bank account by the owner of a<br/>business.
- Some inventory taken by the owner of a business has not yet been recorded. When this transaction is recorded: A: Profit will rise and net assets fall. B: Profit will rise and net assets stay the same. C: Profit will fall and net assets rise. D: Profit will fall and net assets stay the same.
- Which of the following calculations could produce an acceptable figure for a trader's net profit for a period if no accounting records had been kept? A: Closing net assets plus drawings minus capital introduced minus opening net assets. B: Closing net assets minus drawings plus capital introduced minus opening net assets. C: Closing net assets minus drawings minus capital introduced minus opening net assets . D: Closing net assets plus drawings plus capital introduced minus opening net assets .