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SWFT Essntl Tax Individ/Bus Entities 2020

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter4: Gross Income

Section: Chapter Questions

Problem 2CE

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Question

If the liabilities of a business increased RM60,000 during a period of time .

If the liabilities of a business increased RM60,000
during a period of time and the owner's equity in
the business decreased RM20,000 during the same
period, the assets of the business must have:
1) Decreased RM80,000
2) Increased RM40,000
3) Increased RM20,000
4) Decreased RM40,000

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