Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Concept explainers
Question
1-Bank Overdraft is an example of
a.
Current asset
b.
Current liability
c.
Non-current asset
d.
Non-current liability
2-Mr. Salim Mr Salman are running a restaurant business in Nizwa. Which of the following would be classified as an expense for their restaurant business?
a.
Salary paid for restaurant employees
b.
Furniture in the restaurant
c.
Inventory of tea & coffee
d.
Cash in hand in the restaurant
3-It is the list of all invoices sent out to Customers each day by your business
a.
Cash receipt journal
b.
Cash disbursement journal
c.
Sales day book
d.
Purchase day book
4-The allowance or concession granted to a retailer by the wholesaler or dealer is
a.
Sales
b.
Profit
c.
Discount
d.
Purchase
5-Which of the following is an example of Error of Commission?
a.
Electricity expense of OMR 150 was entered in OMR 150 in Telephone expenses account
b.
Purchase of goods of OMR 15000 entered twice in the accounts
c.
Purchase of goods OMR 15,000 were not entered in both the accounts
d.
Purchase of goods OMR 15000 were entered in Merchandise inventory account only
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