Homework Help is Here – Start Your Trial Now!
Business
Accounting
5. This is a tangible asset. A. land B. goodwill C. patcnt D. copyright

5. This is a tangible asset. A. land B. goodwill C. patcnt D. copyright

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Answer number 5,10, 14

3. These are the debts of the business. A. liabilities B. assets C. revenues D. owner's equity 4. Capital and drawings are examples of these. A. owner's equity B. revenues С. еxpenses D. net profit 5. This is a tangible asset. A. land B. goodwill C. patent D. copyright 6. This is the account title where the Unearned Revenue falls. A. liability account B. asset account C. income account D. revenue account 7. Loan payable and mortgage payable are examples of Non-Current Liabilities. A. Ycs, these are examples of Non-Current Liabilitics. B. No, these are examples of Current Liabilities. C. Yes, but sometimes these are current assets. D. No, because these are non-current assets. 8. It is the listing of the accounts used by the company to their financial records. A. chart of accounts B. list of accounts C. accounts receivable D. accounts payable 9. These are amounts due from third parties supported by promissory notes. A. notes payable B. notes receivable C. notebook D. none of the above 10. These are the items purchased by an enterprise that are unused as of the reporting date. A. supplies B. inventories C. equipment D. machineries 63
Transcribed Image Text:3. These are the debts of the business. A. liabilities B. assets C. revenues D. owner's equity 4. Capital and drawings are examples of these. A. owner's equity B. revenues С. еxpenses D. net profit 5. This is a tangible asset. A. land B. goodwill C. patent D. copyright 6. This is the account title where the Unearned Revenue falls. A. liability account B. asset account C. income account D. revenue account 7. Loan payable and mortgage payable are examples of Non-Current Liabilities. A. Ycs, these are examples of Non-Current Liabilitics. B. No, these are examples of Current Liabilities. C. Yes, but sometimes these are current assets. D. No, because these are non-current assets. 8. It is the listing of the accounts used by the company to their financial records. A. chart of accounts B. list of accounts C. accounts receivable D. accounts payable 9. These are amounts due from third parties supported by promissory notes. A. notes payable B. notes receivable C. notebook D. none of the above 10. These are the items purchased by an enterprise that are unused as of the reporting date. A. supplies B. inventories C. equipment D. machineries 63
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS