Recording revenue
A) increases assets and liabilities.
B) increases assets and shareholders' equity.
C) increases assets and decreases shareholders' equity.
D) has no effect on total assets.
Correct Answer:
Verified
Q44: Shareholders' equity is increased by
A) dividends declared.
B)
Q45: A paid dividend
A) decreases assets and shareholders'
Q46: Which of the following items has no
Q47: The payment of an account payable
A) decreases
Q48: If expenses are paid in cash, then
A)
Q50: Debit and credit can be interpreted to
Q51: An expense
A) decreases assets and liabilities.
B) decreases
Q52: If an individual asset is increased, then
A)
Q53: The payment of a liability
A) decreases assets
Q54: Collection of an $800 accounts receivable
A) increases
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents