Multiple Choice
1. Which of the following is an intangible asset?
a. copyrights
b. patents
c. trademarks
d. all of the above
2. If an owner invests her laptop computer and printer in the business, there is an increase to
a. Cash and Capital.
b. Cash and Withdrawals.
c. Computer Equipment and Capital.
d. Computer Equipment and Cash.
e. Computer Equipment and Withdrawals.
3. Which of the following is correct?
| Assets |
Liabilities |
Capital |
| a. P7,850 |
P1,250 |
P6,600 |
| b. P8,200 |
P2,800 |
P11,000 |
| c. P9,550 |
P1,150 |
P8,200 |
| d. P5,420 |
P61540 |
P1,120 |
4. Which of the following equations is correct?
a. Assets + Capital = Liabilities
b. Liabilities - Capital = Assets
c. Capital = Assets + Liabilities
d. Capital = Assets - Liabilities
5. The following can be found in an income statement except
a. assets.
b. expenses.
c. income.
d. profit or loss.