ENDTERM ongs Duration: 120 Minutes SECTION -A TEMPT ALL OBJECTIVE QUESTIONS 1. Creditors, debtors: eg, suppliers, lenders, customers: a Nominal assets b. Personal assets c. Real assets d. None of the above 2. If a business owner sales RO1,000 worth of inventory with cash, transactions in a journal entry are: a. The cash account increase by RO1,000, and the inventory b. The cash account decreases by RO 1,000, and the invento c. The cash account decreases by RO 1,000, and the invento d. The cash account decreases by RO 1,000, and the goods a 3. What are the features of a Trial Balance? a. Double entry bookkeeping is a method of listing business form of a statement b. A firm prepares a trial balance in order to check the arithn accounts c. Double entry system is used to represent an accurate pictu financial position d. All the above As of December 31, 2021, Anwar Company has assets of RO 4,5 How much Anwar company's liabilities as December 31, 2021: a. RO 1,500 b. RO 1,000. C.RO 2,500 d. RO 2,000 ENDTERM ongs Duration: 120 Minutes SECTION -A TEMPT ALL OBJECTIVE QUESTIONS 1. Creditors, debtors: eg, suppliers, lenders, customers: a Nominal assets b. Personal assets c. Real assets d. None of the above 2. If a business owner sales RO1,000 worth of inventory with cash, transactions in a journal entry are: a. The cash account increase by RO1,000, and the inventory b. The cash account decreases by RO 1,000, and the invento c. The cash account decreases by RO 1,000, and the invento d. The cash account decreases by RO 1,000, and the goods a 3. What are the features of a Trial Balance? a. Double entry bookkeeping is a method of listing business form of a statement b. A firm prepares a trial balance in order to check the arithn accounts c. Double entry system is used to represent an accurate pictu financial position d. All the above As of December 31, 2021, Anwar Company has assets of RO 4,5 How much Anwar company's liabilities as December 31, 2021: a. RO 1,500 b. RO 1,000. C.RO 2,500 d. RO 2,000