Listed below are components of several transactions. Indicate whether a debit (dr) or credit (cr) would be required to record the component of the transaction.   Question 3 options:   Increase in Inventory.   Decrease in Equipment.   Decrease in Notes Payable.   Increase in Accounts Payable.   Increase in Common Stock.   Increase in Cash.

Cash flow from operating activities is increased by:     a. depreciation and amortization     b. a decrease in accounts receivable     c. a decrease in inventory     d. an increase in accounts payable     e. all of these

What are the debits and credits?

Which of the following would indicate a cash payment? a. An increase in prepaid expenses b. Selling equipment at a loss c. A decrease in inventory d. A decrease in accounts receivable

What is the total liabilities, please break down.

9. Statement 1: Sales has a normal balance of a credit while Purchases has a normal balance of a debit. Statement 2: Accounts Receivable has a normal balance of a debit while Accounts Payable has a normal balance of a credit. a. Both statements are true b. Only Statement 1 is true c. Only Statement 2 is true d. Both statements are false 10. Statement 1: Statement of Financial Position was previously known as Balance Sheet. Statement 2: Statement of Financial Position is composed of three accounting elements which are the Assets, Liabilities and Owner's Equity. a. Both statements are true b. Only Statement 1 is true c. Only Statement 2 is true d. Both statements are false 11. Statement 1: Statement of Financial Position answers the question on how much is owned by business which refers to "Assets" Statement 2: The accounting equation, Aseets= Liabilities + Owner's Equity reflects the normal balances of accounts. a. Both statements are true b. Only Statement 1 is true c. Only Statement 2…

Which one of the following statements about revenue is not correct?A. Revenue can result in increases in accounts receivableB. Revenue can result in increases in liabilitiesC. Revenue is earned whenever cash is received from a customerD. Revenue is earned when a service is provided to a customer

MULTIPLE CHOICE What is the effect of the following situations on the cost of accounts receivable financing? (A) A more thorough credit check is undertaken. (B) Receivables are sold without recourse.  A. (A) Increase; (B) DecreaseB. (A) Decrease; (B) IncreaseC. (A) Decrease; (B) DecreaseD. (A) Increase; (B) IncreaseE. (A) Increase; (B) No effect

B4.

A £500 cash sale was entered as a debit in the sales account and a credit in the bank account. What type of error is this? Select one: A. Compensating B. Ommission C. Reversal of entries O D. Original entry E. Commission O F. Principle