Which of the following accounts is not an asset?
A) Accounts Payable
B) Accounts Receivable
C) Cash
D) Supplies
Correct Answer:
Verified
Q17: Both owner investments and revenues increase total
Q18: The purchase of store equipment for cash
Q19: The payment of rent expense reduces owner's
Q20: Revenues result from the delivery of goods,
Q21: If Beringer Company's liabilities are $18,000 and
Q23: If assets are $20,000 and owner's equity
Q24: If Doane Company's liabilities are $28,000 and
Q25: Which of the following decreases owner's equity?
A)
Q26: Rights or claims against resources by owners
Q27: Rights or claims against resources by creditors
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