Which transactions are involved in Owner’s equity?
A. sale of goods to customer
B. provision of services to client
C. withdrawal of capital
D. contribution of capital by owners
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Which equations are correct？
A. Profit = Income – Expenses
B. Assets = Liabilities +Owner’s Equity + Income – Expenses
C. Assets = Liabilities +Owner’s Equity
D. Assets = Liabilities - Owner’s Equity
Financial statements include?
A. Balance sheet
B. Trial balance sheet
C. Statement of profit or loss
D. Cash statement
Which ones are included by liabilities?
A. Notes payable
B. Rent revenue
C. Accounts payable
D. Taxes payable
Which ones are included by revenue?
A. Fees earned
B. Commissions revenue
C. Rent revenue
D. Accounts receivable
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