Which of the following is not an asset account? cash O prepaid expense O accrued expense accrued revenue Which of these rules is incorrect? O Credits decrease the asset account O Debits increase the capital account Credits increase liability accounts O Debits decrease liability accounts

Which of the following is not an asset account? cash O prepaid expense O accrued expense accrued revenue Which of these rules is incorrect? O Credits decrease the asset account O Debits increase the capital account Credits increase liability accounts O Debits decrease liability accounts

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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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Answers only

Which of the following is not an asset
account?
O cash
O prepaid expense
accrued expense
accrued revenue
Which of these rules is incorrect?
O Credits decrease the asset account
Debits increase the capital account
Credits increase liability accounts
O Debits decrease liability accounts

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