Question and answer
18. A debit (Points : 1) is on the left side. decreases assets. increases liabilities. increases owner's equity.
A debit is on the left side.
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Asked 2/3/2015 10:43:26 AM
Updated 2/5/2015 7:14:16 PM
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A debit is on the left side.
Added 2/5/2015 7:14:16 PM
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Questions asked by the same visitor
6. The terms "profit and loss statement" or "operating statement" are sometimes used as synonyms for the balance sheet. (Points : 1) True False
Question
Updated 2/7/2015 11:07:55 AM
1 Answer/Comment
The terms "profit and loss statement" or "operating statement" are sometimes used as synonyms for the balance sheet. This is FALSE. They are used as synonyms for the income statement.
Added 2/7/2015 11:07:55 AM
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5. A business that makes a product to sell is called a manufacturing business. (Points : 1) True False
Question
Not Answered
Updated 2/3/2015 10:38:55 AM
1 Answer/Comment
A business that makes a product to sell is called a manufacturing business. TRUE.
Added 2/3/2015 10:38:55 AM
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13. The capital account (Points : 1) decreases with increased revenue. increases with increased expenses. has a normal balance of a debit. increases when the owner invests money in the business.
Question
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Updated 2/5/2015 7:15:39 PM
1 Answer/Comment
The Capital account increases when the owner invests money in the business.
Added 2/5/2015 7:15:39 PM
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16. Examples of revenue accounts include all of the following EXCEPT (Points : 1) Wages. Sales. Delivery Fees. Professional Fees.
Question
Updated 11/25/2017 11:52:49 AM
1 Answer/Comment
Examples of revenue accounts include all of the following EXCEPT wages.
Added 11/25/2017 11:52:49 AM
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Confirmed by yumdrea [11/25/2017 12:54:24 PM]
22. A trial balance is taken periodically to check the equality of the debits and credits. (Points : 1) True False
Question
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Updated 12/20/2017 8:46:57 AM
1 Answer/Comment
A trial balance is taken periodically to check the equality of the debits and credits. True.

Added 12/20/2017 8:46:57 AM
This answer has been confirmed as correct and helpful.
Confirmed by yumdrea [12/20/2017 9:33:50 AM]
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