Accounting Equation : It is very important and beneficial tool for management. we can define it in these words “The expression of the equality of an entity’s Assets with the claim against them is referred to as the Accounting Equation. The financial position of a business can be checked in …

Introduction to Accounting MCQs with Answers – Test Your Mcqs Skills 1)  A  written evidence in supporting business dealing is called: (A)  Business document (B)  Business letter (C)  Voucher (D)  Financial statement Answer: Option C 2)  Creditors are also known as: (A)  Notes payable (B)  Accounts Receivable (C)  Notes payable (D)  …