Multiple Choice
Speedy Window Cleaning received $600 for window cleaning services provided. Which of the following represents the effect on the accounting equation?
A) Increase in assets of $600; increase in equity of $600.
B) Increase in assets of $600; decrease in assets of $600.
C) Increase in assets of $600; increase in liabilities of $600.
D) Decrease in assets of $600; decrease in equity of $600.
Correct Answer:

Verified
Correct Answer:
Verified
Q10: Jane is an accountant operating as a
Q11: The assets of Frank's business increased by
Q12: Which statement is not correct?<br>A) Information in
Q13: Liz, after qualifying at university and having
Q14: Which of these is not an alternative
Q16: Drop Zone Parachuting has decided to prepare
Q17: In order to assess an entity's cash
Q18: A balance sheet:<br>A) is classified into operating,
Q19: Which of these is not an alternative
Q20: If the loss for the period is