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Which of the Following Are Correct for Journal Entries in the Long-Term

Question 15

Multiple Choice

Which of the following are correct for journal entries in the long-term debt and owner's equity process?


A) asset accounts or expense accounts are decreased when a liability is recorded or stock is issued
B) asset accounts or expense accounts are increased when a liability is recorded or stock is issued
C) cash is increased when the liability is paid off or dividends are paid
D) cash is decreased when the liability is paid off or dividends are paid
E) cash is decreased when the liability is paid off or stock is issued
F) both A and B
G) both B and D
H) both C and E

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