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10. Service rendered on account is recorded by a: A. Debit to service revenue B. Credit to cash C. Debit to accounts receivable D. Credit to accounts payable 11. Payment of an accounts is recorded by a: A. Debit to accounts receivable B. Debit to accounts payable C. Credit to cash D. Both B and C are correct 12. When an amount is posted on the wrong side of the account: A. There is no error B. The amount off error is twice that of the amount posted C. The amount of error is exactly divisible by two D. Both B and C are correct

10. Service rendered on account is recorded by a: A. Debit to service revenue B. Credit to cash C. Debit to accounts receivable D. Credit to accounts payable 11. Payment of an accounts is recorded by a: A. Debit to accounts receivable B. Debit to accounts payable C. Credit to cash D. Both B and C are correct 12. When an amount is posted on the wrong side of the account: A. There is no error B. The amount off error is twice that of the amount posted C. The amount of error is exactly divisible by two D. Both B and C are correct

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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10. Service rendered on account is recorded by a: A. Debit to service revenue B. Credit to cash C. Debit to accounts receivable D. Credit to accounts payable 11. Payment of an accounts is recorded by a: A. Debit to accounts receivable B. Debit to accounts payable C. Credit to cash D. Both B and C are correct 12. When an amount is posted on the wrong side of the account: A. There is no error B. The amount off error is twice that of the amount posted C. The amount of error is exactly divisible by two D. Both B and C are correct
Transcribed Image Text:10. Service rendered on account is recorded by a: A. Debit to service revenue B. Credit to cash C. Debit to accounts receivable D. Credit to accounts payable 11. Payment of an accounts is recorded by a: A. Debit to accounts receivable B. Debit to accounts payable C. Credit to cash D. Both B and C are correct 12. When an amount is posted on the wrong side of the account: A. There is no error B. The amount off error is twice that of the amount posted C. The amount of error is exactly divisible by two D. Both B and C are correct
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