Earning revenue
A) increases assets, increases owner's equity
B) increases assets, decreases owner's equity
C) increases one asset, decreases another asset
D) decreases assets, increases liabilities
Correct Answer:
Verified
Q91: The asset created by a business when
Q92: A business paid $7,000 to a creditor
Q93: If total liabilities decreased by $46,000 during
Q94: Revenues are reported when
A) a contract is
Q95: Owner's withdrawals
A) increase expenses
B) decrease expenses
C) increase
Q97: Which of the following is not a
Q98: If total assets decreased by $88,000 during
Q99: Debts owed by a business are referred
Q100: Assets are
A) always lower than liabilities
B) equal
Q101: All of the following are general-purpose financial
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