341. Which of the following accounting equation is correct?
A. Cash+Other assets=Capital-Liabilities
B. Capital+ Liabilities=Assets+Income
C. Assets-Liabilities=Capital
D. Assets+Capital=Liabilities

342. Fresh capital introduction will increase____________?
A. Assets and liabilities
B. Assets and equity
C. Liabilities and equity and bank balance
D. Capital and liabilities

343. Cash received for services rendered will______________?
A. Increase cash and liability
B. Increase equity and liability
C. Increase fixed assets and cash
D. Increase cash and equity

344. Which of following best describes the increase in equity expands___________?
A. Business operations
B. cash outflows
C. Inflows of cash
D. Appropriation expenses

345. If Cash=$1000 inventories=$4000 Debtors=$5000 fixed assets=? Capital+Liabilities=$15000 What is the Amount of total assets?
A. $5000
B. $10,000
C. $15,000
D. $20,000

346. Depreciation decreases____________?
A. Liabilities
B. Cash
C. Bank
D. Capital

347. An increase in provision for bad debt will____________?
A. Decrease net income
B. Decrease liabilities
C. Increase net income
D. Increase liabilities

348. Current assets ā€“ Current liabilities=?
A. Capital
B. Absorbed capital
C. Net assets
D. Net working capital

349. Assets-Liabilities=____________?
A. Cash
B. Equity
C. Net income
D. Net expenses

350. The process of recording is done?
A. Two times a year
B. once a year
C. Frequently during the accounting period
D. At the end of a accounting period

NOTE
IF YOU THINK ANY OF THE MCQ ABOVE IS WRONG.
PLEASE COMMENT WITH CORRECT ANSWER AND ITS DETAIL EXPLANATION IN COMMENT BOX.
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