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8. Cash a/c has a debit balance True False   9. Capital brought in by the proprietor is an example of Increase in Asset and increase in Liability Increase in Liability and decrease in Asset Increase in Asset & decrease in liability     10.Which of the following is correct about a company’s  Balance sheet? d). It is unnecessary if both an Income statement and cash flow statements are available. a). It is an expansion of the basic accounting equation: Asset= Liabilities + equity b). It displays sources and uses of cash for the period c). It is sometimes referring to as a statement of change in financial position

8. Cash a/c has a debit balance True False   9. Capital brought in by the proprietor is an example of Increase in Asset and increase in Liability Increase in Liability and decrease in Asset Increase in Asset & decrease in liability     10.Which of the following is correct about a company’s  Balance sheet? d). It is unnecessary if both an Income statement and cash flow statements are available. a). It is an expansion of the basic accounting equation: Asset= Liabilities + equity b). It displays sources and uses of cash for the period c). It is sometimes referring to as a statement of change in financial position

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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8. Cash a/c has a debit balance

True
False
 

9. Capital brought in by the proprietor is an example of

  • Increase in Asset and increase in Liability
  • Increase in Liability and decrease in Asset
  • Increase in Asset & decrease in liability
 
 

10.Which of the following is correct about a company’s  Balance sheet?

d). It is unnecessary if both an Income statement and cash flow statements are available.
a). It is an expansion of the basic accounting equation: Asset= Liabilities + equity
b). It displays sources and uses of cash for the period
c). It is sometimes referring to as a statement of change in financial position
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