06. Arrange the following items in current assets according to its liquidity: A. Cash,...
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Accounting
06. Arrange the following items in current assets according to its liquidity:
A. Cash, Inventories, Marketable Securities, Account Receivable.
B. Cash, Account Receivable, Inventories, Marketable Securities.
C. Cash, Marketable Securities, Account Receivable, Inventories.
D. Cash, Account Receivable, Marketable Securities, Inventories.
07. Which is FALSE ?
A. Assets = Owners Equity + Liabilities.
B. Assets Liabilities = Owners Equity.
C. Assets + Liabilities = Owners Equity.
D. Assets Owners Equity = Liabilities.
08. Which of the following is a DISADVANTAGE of the sole proprietorship?
A. Unlimited liability
B. No time limit imposed on its existence
C. No legal requirements for starting the business
D. None of the above
09. The true owners of the corporation are the__________.
A. bond holders
B. common stockholders
C. preferred stockholders
D. board of directors of the firm
10. Your firm has the following balance sheet statement items: total current liabilities of RM805,000; total assets of RM2,655,000; fixed and other assets of RM1,770,000; and long-term debt of RM200,000. What is the amount of the firms net working capital?
A. RM25,000
B. RM80,000
C. RM325,000
D. RM770,000
Please explain and answer
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