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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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)
Q49: Recording revenue
A) increases assets and liabilities.
B) increases
Q50: Debit and credit can be interpreted to
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
Q55: A paid income tax instalment
A) increases assets
Q56: Accounting systems should record
A) all economic events.
B)
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