Multiple Choice
Which of the following transactions could explain the reason for a decrease in the cash account and a decrease in profit?
A) Owner withdrawing cash from the business bank account.
B) Payment to a supplier for goods purchased on credit.
C) Payment of wages.
D) Loan repayment.
Correct Answer:
Verified
Correct Answer:
Verified
Q36: A listing of ledger accounts,names,and amounts is
Q37: The error that would be detected by
Q38: Expenses have a (positive/negative)_ effect on Equity.
Q39: Receiving payment from a customer for inventory
Q40: Omitting a transaction for a credit sale
Q42: The _ _ is the accounting principle
Q43: An owner pays her private motor vehicle
Q44: Assets should always be:<br>A) equal to liabilities.<br>B)
Q45: For the accounting equation to balance each
Q46: Which of the following rules is correct?<br>A)