Debits to revenue accounts ultimately result in an) :
A) increase in owners' equity and assets.
B) decrease in owners' equity and assets.
C) increase in liabilities assets.
D) decrease in assets and liabilities.
Correct Answer:
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Q26: Purchasing a three- year insurance policy for
Q27: The normal balance of the Common Stock
Q28: A chart of accounts is:
A)a list of
Q29: Double- entry accounting means that each transaction:
A)debits
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Q32: A trial balance has which of the
Q33: A trial balance is:
A)a list of balance
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