An investment of cash in a business by the owner
A) increases cash.
B) decreases owner's equity.
C) appears in a liability account.
D) represents an obligation of the business.
Correct Answer:
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Q51: A credit
A) increases assets.
B) is on the
Q52: A cash payment on a loan affects
Q53: A debit
A) is on the left side.
B)
Q54: Totals on the debit and credit sides
Q55: An example of an expense is
A) prepaid
Q57: Revenues
A) decrease liabilities.
B) decrease cash.
C) increase expenses.
D)
Q58: Asset and expense accounts normally have
A) credit
Q59: A debit represents an increase in
A) an
Q60: The fact that each transaction has a
Q61: Falana receives payment for services performed in
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