The purchase of office equipment for cash would increase both an asset and a liability account.
Correct Answer:
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Q12: A company performed services for a customer
Q13: The rules for recording accounting transactions do
Q14: Which of the following is NOT an
Q15: A business transaction has occurred when:
A)an event
Q16: A company paid cash for employee wages.
Q18: When a business makes a sale on
Q19: Goods purchased on account for future use
Q20: Prepaid expense accounts appear on:
A)the Income Statement.
B)the
Q22: Which type of account is increased when
Q23: The payment of salaries to employees would:
A)
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