Test(2) accounting

The start point in accounting process is recording 

True
False

Investors of the company is..........

internal user
external user
internal and external user
all of these

General accepted accounting principle is...........

GAAR
GAEP
GAAP
ASAP

When assets increase 10000. Liabilities increase 2000. Owner's Equity .............

increase 1200
decrease 12000
decrease 10000
increase 8000

increase 8000
increase 10000
decrease 10000
decrease 12000

All of these decrease capital except..........

revenue
Expenses
drawings
Net loss

When assets increase 15000. Liabilities increase 5000 Owner's Equity...............

increase 10000
increase 5000
decrease 10000
decrease 5000

If assets 150000 and liabilities 50000
130000
100000
120000
non of the above

assets is ...........
Resorces
claims
obligations
non of the above

creditors are ..........
internal users
external users
internal and external users
non of the above

Purchase furniture 5000 cash
Increase assets and incr Liabilities
Increase assets and decrease assets
Increase assets and increase Liabilities
No Effect

Recording and accounting the same 
True
False

Accounting is an art 
True
False

The owner withdraw 2000 cash
Increase assets and increase Liabilities
Increase assets and increase Owner's Equity
Decrease assets and decrease Owner's
No Effect

Accounting Equation is....... 
Assets =Liabilities +Owner's Equity
Assets - Liabilities = Owner's Equity
Assets - Owner's Equity = Liabilities
All of these