Multiple Choice
The effect of profit on the accounting equation is to:
A) increase assets.
B) decrease expenses.
C) increase equity.
D) decrease liabilities.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q20: An accountant sent an invoice to a
Q21: The receipt of payment for an account
Q22: Which of the following is not a
Q23: The business completes a purchase order for
Q24: Occurrences that have the potential to affect
Q26: A business borrows $10 000 from the
Q27: A journal is a record in which
Q28: Profit (or loss)= _ less expenses
Q29: A business purchased a motor vehicle worth
Q30: Which of the following would be recognised