When prepaid rent is recognized as an expense, which of the following is true? Select one: a. Prepaid rent decrease, rent expense on the income statement increases and equity decreases b. Cash decreases and equity decreases c. Prepaid rent decrease, rent expense on the balance sheet increases and equity decreases d. Prepaid rent decrease, rent expense on the income statement increases and equity increases

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A: when companies earn income they share income with shareholders by way of dividend.

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Q: True or false. Debit Increases in assets and expenses, decreases in liabilities and revenue?

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A: Answer:   Option 4.

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A: Every debit has his credit, So it should be equal.

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Q: Which of the following normally has a net credit balance? A. Asset accounts such as cash, accounts…

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Q: Which of the following would not result in an increase in both the current ratio and the acid-test…

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Q: True or false Credits Increases in liabilities and revenue. Decrease in assets and expenses?

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.