The owner's equity will be reduced by all of the following except: a. revenues. b. expenses. c. withdrawals. d. All of these choices are correct.
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- General accountingMultiple choice: 1. Which if the following us correct concerning a T account? A. The left side is the decrease side for assets B. The right side is the decrease side for liabilities C. The right side is the increase side for revenue D. The left side is the decrease side for expenses 2. Which of the following is not true concerning T accounts? A. The right side of a revenue account is an increase B. The left side of an expense account is an increase C. The left side of an asset account is an increase D. The left side of a liability account is an increaseDescribe two ways to increase owners equity and two ways to decrease owners equity
- The left side of an account is: Group of answer choices: either an increase or a decrease depending on the type of account. always the decrease side. always the default side. always the increase side.Identify the statement below that is correct: Multiple Choice Debits decrease asset and expense accounts, and increase liability, equity, and revenue accounts. The left side of a T-account is the credit side. Credits increase asset and expense accounts, and decrease liability, equity, and revenue accounts. The total amount debited need not equal the total amount credited for a particular transaction. The left side of a T-account is the debit side.Multiple choice: 1.Collection of an account receivable would: A.decrease liabilities B. have no effect on owner's equity C. decrease owner’s equity D. increase total assets
- For the items listed below, indicate how the item affects equity (increase, decrease, or no impact. Item Increase? Decrease? or No Impact?ExpensesAssetsGainsLiabilitiesUnearned revenue occurs when:A) Customers pay after receiving a serviceB) Customers pay in advance of receiving a serviceC) Customers default and do not pay you what is owedD) All of the choices are correct Group of answer choices A B C DNote:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- Outline how you would incorporate the following into the CCAPM:a. Liquidity.b. Nontraded assets. (Do you have to worry about labor income?)Which of the following options is not recorded in the Balance sheet? a. Goodwill b. Building c. Rent expenses d. CashWhich of the following is not an example of an asset? Group of answer choices Supplies. Accounts receivable. Prepaid Insurance. Deferred revenues.
