Multiple Choice
The major shareholder of ABC Company purchased a new yacht with his own funds. ABC would:
A) debit an asset account.
B) credit a revenue account.
C) credit a liability account.
D) not record the transaction in their books.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q52: The entry to record the purchase of
Q54: Which of the following transactions will increase
Q55: Complete the following chart indicating if the
Q56: Put an "X" in the appropriate box
Q58: Paying a repair bill as soon as
Q59: A record of all the changes in
Q60: Goods purchased on account for future use
Q61: Anya Smith started Geek Speak, a computer
Q62: Any event that has a financial impact
Q77: All of the following accounts would be