(A) $1,000
(B) $1,500
(C) $2,000
(D) $2,500

(A) Capital
(B) Property
(C) Patent rights
(D) Inventory

(A) Patent rights
(B) Inventory
(C) Cash
(D) Trade receivables

(A) receivable
(B) payable
(C) bad debt
(D) none of these

(A) $0
(B) $5,000
(C) $10,000
(D) $15,000

(A) Assets + Liabilities = Equity
(B) Assets – Liabilities = Equity
(C) Assets – Receivable = Equity
(D) Assets + Receivable = Equity

(A) International Financial Reporting Standards
(B) International Financial Accounting Standards
(C) International Accounting & Auditing Standards
(D) International Risk Reporting Standards

(A) Company Law
(B) Accounting standards
(C) Both A and B
(D) None of these

(A) Sole trader
(B) Partnership
(C) Company
(D) All of the above

(A) Appropriation of profit among partners
(B) Income of the partnership firm
(C) Expense to partnership firm
(D) None of the above