Student's Fuil Name: ID Number Exam: MIDTFRAF(umakenel Major: Section: Mfern/Encwies Daration: 20. Mfmures Total Marka 20 ATTEMIT AEL OMJCTIVE QUESTION (120.5=6Marar) 1- ... is an example of Financial Asset. a. Equity b. Stock c. Fixed asset d. All the Above 2- wrefers to the amount invested by the ovvier of the business a Cash b. Creditars c. Capital d. Bills payable 3. -. parpose is to show the reader how much profit or loss an organization genenated during a reporting period a. Income statement b. Balance sheet c. Lease d. None of the above. 4- The person who undertakes an agreenent, conveys to another person the right to use in reeurn for rent, an asset for an agreed period. a. Lessec b. Lessor c. Both d. None of the Above 5- Accounting standard for lease is a. IAS 20 b. IAS 15 c. IAS 17 d. All of the Above 6. There are two parties involved in a lease agreement namely a. Lessor and lessee b. Indemnifier and surety c. Buyer and seller d. Bailor and bailee