Which type of account increases with a credit? (a) Assets (b) Expenses (c) Liabilities (d) Dividends
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- Which statement is most directly affected by a change to net income? A. balance sheet B. income statement C. statement of retained earnings D. statement of cash flowsDefine current assets and current liabilities. Why are current assets and current liabilities separated from noncurrent assets and long-term liabilities on the balance sheet?On which financial statement would the Dividends account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
- Which of the following are increased by credits?: a) revenues and gains b) expenses and losses c) assets d) dividendsWhich of the following groups of accounts increase with a credit? Oa. assets, common stock, revenues Ob. common stock, revenues, expenses Oc. liabilities, common stock, revenuesWhich of the following is a nominal account? a. Retained earnings b. Accounts receivable c. Purchase returns and allowances d. Accumulated depreciation
- In which of the following types of accounts are increases recorded by credits? Question 8 options: Revenue, Dividends Liability, Revenue Dividends, Asset Expense, LiabilityAccrued revenues would appear on the balance sheet as A. assets B. liabilities C. capital D. prepaid expenssesWhich of the following is (are) deducted from EBIT to determine net income? A. Earnings per share B. Interest expense C. Corporate taxes D. Both B and C
- Which of the following accounts is increased by a debit? Common Stock Accounts Payable Inventory Service Revenue Long-Term DebtIn which of the following types of accounts are increases recorded by credits? A. revenues and liabilities B. drawing and assets C. expenses and liabilities(24) Which account would be reported on the income statement? A. Interest Expense B. Notes Payable C. Interest Payable D. Wages Payable
