Correct Answer
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True/False
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Essay
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View Answer
Multiple Choice
A) Assets increase and liabilities increase.
B) Assets increase and owners' equity increases.
C) Liabilities increase and owners' equity decreases.
D) Liabilities decrease and assets decrease.
Correct Answer
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Multiple Choice
A) Furniture and Supplies
B) Cash
C) Accounts Payable
D) Administrative Expenses
Correct Answer
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Multiple Choice
A) Assets increase and liabilities increase.
B) Assets increase and stockholders' equity increases.
C) Liabilities increase and stockholders' equity decreases.
D) Liabilities decrease and assets decrease.
Correct Answer
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Multiple Choice
A) Assets increase and liabilities increase.
B) Assets increase and stockholders' equity increases.
C) Liabilities increase and stockholders' equity decreases.
D) Liabilities decrease and assets decrease.
Correct Answer
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Multiple Choice
A) An entry in a general ledger account can be traced to the trial balance by referring to the page listed in the posting reference column of that ledger account.
B) The posting of an amount recorded in the general journal can be verified by referring to the account number listed in the posting reference column on that line in the general journal.
C) Business transactions are recorded first in the general ledger;then that information is transferred to the general journal.
D) No explanation is needed for each entry in the general journal.
Correct Answer
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True/False
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Short Answer
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Multiple Choice
A) A credit to Cash for $6,600.
B) A debit to Accounts Receivable for $6,600.
C) A debit to Accounts Receivable for $2,200.
D) A debit to Sales Revenue for $6,600.
Correct Answer
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Multiple Choice
A) Account
B) General Journal
C) General Ledger
D) Chart of Accounts
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Multiple Choice
A) Double-entry system
B) Posting
C) Credit
D) Journalizing
Correct Answer
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True/False
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Multiple Choice
A) Common Stock (Capital Stock)
B) Equipment
C) Unearned Subscription Revenue
D) Notes Payable
Correct Answer
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True/False
Correct Answer
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Short Answer
Correct Answer
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True/False
Correct Answer
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True/False
Correct Answer
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True/False
Correct Answer
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