In a proprietorship, owner's equity is affected by all of the following EXCEPT
A) the investment of cash by the owners.
B) the purchase of a personal automobile by the owner using personal funds.
C) the purchase of a computer for the owner's son using cash generated by the business.
D) the sale of goods by the business.
Correct Answer:
Verified
Q81: An Income Statement
A) summarizes the changes in
Q82: Profit results when
A) Assets > Liabilities.
B) Revenues
Q83: Which of the following would NOT affect
Q84: The cost principle requires that when assets
Q85: The basic accounting equation, in a proprietorship,
Q87: Owner's equity is often referred to as
A)
Q88: Which of the following accounts would NOT
Q89: Owner's equity, in a proprietorship, is increased
Q90: Sources of increases to owner's equity, in
Q91: The primary purpose of the Cash Flow
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