An expense
A) decreases assets and liabilities.
B) decreases shareholders' equity.
C) has no effect on shareholders' equity.
D) increases assets and decreases shareholder' equity.
Correct Answer:
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Q41: A paid dividend
A)decreases assets and shareholders' equity.
B)increases
Q42: The payment of an account payable
A)decreases total
Q43: Accounting systems should record
A)all economic events.
B)events that
Q44: When an asset increases which of the
Q45: Shareholders' equity is increased by
A)dividends declared.
B)revenues.
C)expenses.
D)liabilities.
Q47: If services are performed on credit, then
A)assets
Q48: Recording revenue
A)increases assets and liabilities.
B)increases assets and
Q49: Which of the following items has no
Q50: An investment by the shareholders in a
Q51: A payment of a portion of accounts
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