Multiple Choice
Which of the following statements is FALSE?
A) A transaction can increase the balance in one account and decrease the balance in another account.
B) A transaction can increase the balance in two accounts.
C) A transaction can increase the balance in two accounts and decrease the balance in one account.
D) A transaction must increase and decrease the same number of accounts.
Correct Answer:
Verified
Correct Answer:
Verified
Q117: The link between the balance sheet and
Q118: Cash dividends are a distribution of _
Q119: Accrue means to pay off a liability.
Q124: This transaction will decrease net income under
Q125: The distinction between paid-in capital and retained
Q125: Oakland Company owns a fixed asset with
Q126: On May 1,San Diego Company paid $36,000
Q127: The cash basis of accounting does not
Q133: Unexpired costs are expenses.
Q135: Generally Accepted Accounting Principles in the United