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#1 2018-08-07 03:39:02

Muhammad
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بِسمِ اللَّهِ الرَّحمٰنِ الرَّحيمِ
From: Sahiwal Division
Registered: 2012-03-22
Posts: 22,033
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Financial Accounting Quiz MCQs Quiz Question.

Accounting Quizzes Financial Accounting Quiz MCQs

Question:
A business sells goods on credit. Which of the following statements are true?

Option A):
The liabilities of the business have increased.
Option B):
The business is owed money from the sale.
Option C):
The business owes money for the sale.
Option D):
A sale has not been made because the business has not been paid.

Correct Answer is Option C):
The business owes money for the sale.


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2018-08-07 03:39:02

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