Answered step by step
Verified Expert Solution
Question
1 Approved Answer
only choose the correct answer. No need for details I need this urgently 1. A company has cash of OMR 100,000; equipment of OMR 30,000;
only choose the correct answer. No need for details I need this urgently
1. A company has cash of OMR 100,000; equipment of OMR 30,000; accounts receivabie the company? 20,000; equity a) OMR 50,000 b) OMR 130,000 c) OMR 150,000 2. Unearned revenues belong to which type of account? a) Assets b) Liability c) Revenue d) Expense 3. A company has total assets of OMR 350,500 and liabilities of OMR 125,000. How much is the amount of equity of the company? a) OMR 225,500 b) OMR 225,000 c) OMR 125,500 d) OMR 375,500 Questions 4 to 7 describe some features of the business organizations. Determine the form of the business organization based on the description. 4. Ownership of Cola Company is divided into 1000 equity shares. a) A sole proprietorship b) Partnership c) Corporation d) Joint Venture 5. Trimark is owned by Sarah, who is personally liable for the debts of the business. a) A sole proprietorship b) Partnership c) Corporation d) Joint Venture 6. XYZ enterprise doesn't pay taxes and has one owner. a) A sole proprietorship b) Partnership c) Corporation 1) Joint Venture Maryam and Sara own Financial Services Company both Maryam and Sara has personal responsibility for the debts of the business. sole proprietorship Inership poration tentureStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started