For the cash account to decrease and the profit to decrease the transaction occurring could have been:
A) purchase of a new printer for the owner's home computer.
B) repayment of a loan.
C) payment of an electricity bill.
D) agreement with a supplier on the value of the next delivery.
Correct Answer:
Verified
Q2: Liabilities + equity should always be:
A)less than
Q3: The sale on credit of a computer
Q4: The effect on the accounting equation of
Q5: Which of these is correct?
A)Assets + liabilities
Q6: The payment of a liability:
A)decreases assets and
Q8: On 14 May,Green Pty Ltd sells goods
Q9: Which of these would be classed as
Q10: For the accounting equation to balance each
Q11: The effect on the accounting equation of
Q12: Evidence that would not be of help
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