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

atement this account. or Balance Account Name Account Type (*) Is this account part of Retained Earnings? Yes or No Normal Balance You increase with a Debit or Credit Write DEBIT or CREDIT. Financial Statement where you find this account. Write: Income Statement or Balance Sheet Prepaid Maintenance Prepaid Supplies Property Tax Property, plat & Equipment Rent Expense Retained Earnings Sales Sales Allowances Sales Discount Sales Revenue Sales Tax Payable Service Revenue Short Term Debt Telephone Expense Trademarks Travel Treasury Stock Utilities Wages Payable Work in Process Inventory

Which of the following has a different effect on net profit than it does on cashflow? A.Cash sale to customer B.Payment for wages C.Payment for rent D.Depreciation of equipment

The expense recognition principle matches Select one: a. expenses with revenues. b. creditors with businesses. c. assets with liabilities. d. customers with businesses.