Decreases in equity that result from peripheral transactions of an entity are referred to as ________.
A) liabilities
B) expenses
C) losses
D) dividends
Correct Answer:
Verified
Q1: Rent expense is normally considered a peripheral
Q2: The first step in the accounting cycle
Q3: List the steps in the accounting cycle
Q4: The accounting equation is correctly stated as
Q5: To be recorded in the general journal,
Q7: The first four steps in the accounting
Q8: The accounting cycle describes a process that
Q9: Expenses and losses will decrease liabilities.
Q10: The first step in the accounting cycle
Q11: Revenues and gains will increase retained earnings.
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