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Please only select the correct answer from question 1 to 15 No need for explanation please since I need the answers urgently 1. A company

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Please only select the correct answer from question 1 to 15

No need for explanation please since I need the answers urgently

1. A company has cash of OMR 100,000 ; equipment of OMR 30,000; accounts receivable of OH. 20,000; equify of OMR 50,000 . How much is the total liabilities of the company? a) OMR 50,000 b) OMR 130,000 c) OMR 150,000 d) OMR 100,000 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 inturship poration tVenture a) Assets b) Liabilities c) Equity d) Revenues 9. Which of the following represents the costs incurred to generate the revenue? a) 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 a) Office supplies Credit c) Office supplies Cash Office supplies expense 15. A company has total equity of Ald Account payable How much is the amomnt of total liabilities are half of its total equit a) OMR 600,400 b) OMR450,300

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