Multiple Choice
Match each of the numbered transactions of a corporation with the appropriate letters, indicating the effect of the transactions (increases and decreases
-Paid rent for the current month
A) Increase an asset
B) Decrease an asset
C) Decrease a liability
D) Increase a liability
E) Decrease common stock
F) Increase common stock
G) Increase dividends
H) Decease dividends
I) Decrease revenue
J) Increase revenue
K) Increase expense
L) Decrease expense
Correct Answer:

Verified
Correct Answer:
Verified
Q29: An account is an individual record of
Q30: The first two steps of the accounting
Q31: Which of the following increases stockholders' equity?<br>A)
Q32: The first step in the accounting cycle
Q33: If the beginning Cash account balance was
Q35: United Delivery, Inc. began business on June
Q36: Which of the following does not affect
Q37: A company's fiscal year may:<br>A) Be any
Q38: Under the double-entry accounting system, no more
Q39: When money is borrowed, both an asset