Multiple Choice
Which of the following types of accounts are affected when a company pays cash dividends to its shareholders?
A) Owners' equity only
B) Both assets and liabilities
C) Both liabilities and owners' equity
D) Both assets and owners' equity
Correct Answer:
Verified
Correct Answer:
Verified
Q95: Christopher Company purchased $20,000 of equipment
Q96: Borrowing money from a bank<br>A) Increases assets
Q97: Telecon, Inc., experienced the following transactions during
Q98: Which of the following types of entries
Q99: Based on the following account balances at
Q101: Transactions are typically entered into the General
Q102: Owners' equity accounts are increased by<br>A) Debits<br>B)
Q103: Revenue accounts are<br>A) Increased with debit entries<br>B)
Q104: The basic accounting equation can be used
Q105: Revenues<br>A) Decrease assets<br>B) Decrease owners' equity<br>C) Increase