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Please I need the solution urgently 9) Assets b) Expenses c) Revenues d) Liabilities 10. Which of the following users is NOT considered external users
Please I need the solution urgently
9) Assets b) Expenses c) Revenues d) Liabilities 10. Which of the following users is NOT considered external users of financial information? a) Suppliers b) Creditors and lenders c) Managers d) Government and tax authorities 11. This principle states that the revenues are to be recognized when the product or service has been delivered. a) Objectivity b) Revenue Recognition c) Materiality d) Matching 12. The process of recording the transaction is called: a) Joumalizing b) Trial balance c) Posting d) Final accounts 13. Which of the following decreases total owner's equity? a) An increase in account payable account b) A decrease in cash account c) A decrease in electricity expense account d) An increase in drawing 14. The journal entry of purchasing supplies on account is: Debit Credit a) Office supplies Cash b) Cash Office supplies c) Office supplies Office supplies expense Account payable 15. A company has total equity of OMR 300,200 and its total liabilities are half of its total equity. How much is the amount of total assets of the company? a) OMR600,400 b) OMR 450,300 c) OMR 150,100 d) OMR 450,000Step by Step Solution
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