Practice Test | Kullabs.com
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  • The amount of money invested by an owner in the beginning or during the life of the business is known as ______.

    Capital
    cash
    Stock
    Fund
  • The liabilities are classified into ______.

    4 types
    2 types
    3 types
    none of the answers are correct
  • The amount of money payable by the business to the outsiders normally after a period of one year is called ______.

    short term liabilities
    capital
    none of the answers are correct
    long term liabilities
  • Bills payable, creditors, bank overdraft, expenses are some of the examples of ______.

    current assets
    assets
    short term liabilities
    long term liabilities
  • Assets are classifies into ______.

    5 types
    3 types
    2 types
    None
  • The amount receivable from the customers against the good sold on credit is called ______.

    creditors
    buyers
    debtors
    seller
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