Accounting Test Easy Mode

Sr. #	Questions	Answers Choice
1	Expenses paid by a business decrease	cash capital cash & capital none of these
2	According to accounting equation, capital is equal to	assets + liabilities expenses-incomes liabilities - assets assets - liabilities
3	Accounting records of a business enterprise are required by	management of the business outsiders all of the above none of the above
4	For every debit, there is a credit	going concern concept dual aspect concept matching concept cost concept
5	Accounting principles can be classified in	three types two types five types six types

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