hich one of the following businesses should use the cash basis for.. Which one of the following businesses should use the cash basis for determining assessable 0 a. A petrol station. b. A hotel. c. A sole practitioner doctor. d. A large partnership of solicitors with 300 employees.

Multiple choice: 1. The drawing account should be used to show A. The amount the owner has invested in the Business B. The amount the owner has taken out of the business C. The amount the business has earned D. The amount yhe business has spent 2. The purchase of an asset on account and making a partial payment results in all of the following EXCEPT A. An increase in an asset account B. A decrease in the Cash account C. A balanced accounting equation D. An increase in owner's equity

4. Categorize each of the following as an operating activity (O), financing activity (F), or investing activity (1): a. Paying wages b. Repaying loans Selling land Selling goods Borrowing money Selling an old, used machine Paying rent Buying a building Paying dividends ن C. d. e. f. g. h. i. j. k. 1. Collecting cash from customers Buying a machine Selling an old building

A business renders services to a customer for OR16,000 on account. Which account is credited? Select one a. Accounts payable b. Cash c Accounts receivable d. service revenue CEA MYCe o o o o