Question and answer
An increase in a revenue account may also result in an increase in the accounts receivable account. (Points : 1) True False
Question|Asked by pooh89
Asked 5/3/2015 1:39:11 PM
Updated 6/30/2015 5:30:19 PM
3 Answers/Comments
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Flagged by debnjerry [6/30/2015 5:30:05 PM]
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User: An increase in a revenue account may also result in an increase in the accounts receivable account. (Points : 1) True False

Weegy: Accounts Receivable is amounts owed by customers to another entity in exchange for goods or services that have been delivered or used, but not yet paid for.



User: Recognizing the effects of transactions on assets, liabilities, owner's equity, revenue, and expenses of a business is the processing function. (Points : 1) True False

Question|Asked by pooh89
Asked 5/3/2015 1:39:11 PM
Updated 6/30/2015 5:30:19 PM
3 Answers/Comments
This conversation has been flagged as incorrect.
Flagged by debnjerry [6/30/2015 5:30:05 PM]
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Recognizing the effects of transactions on assets, liabilities, owner's equity, revenue, and expenses of a business is the processing function. TRUE
Added 6/15/2015 7:47:35 AM
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [6/30/2015 5:29:06 PM], Rated good by debnjerry
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An increase in a revenue account may also result in an increase in the accounts receivable account. TRUE
Added 6/30/2015 5:30:07 PM
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Added 6/30/2015 5:30:19 PM
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Questions asked by pooh89
According to the business entity concept, a proprietor may include nonbusiness assets and liabilities in the business entity's accounting records. (Points : 1) True False
Question|Asked by pooh89
Updated 5/4/2015 6:00:23 AM
1 Answer/Comment
According to the business entity concept, a proprietor may include nonbusiness assets and liabilities in the business entity's accounting records. FALSE
Added 5/4/2015 6:00:23 AM
This answer has been confirmed as correct and helpful.
To debit an account is to enter an amount on the left side of the account. (Points : 1) True False
Question|Asked by pooh89
Not Answered
Updated 5/4/2015 5:55:10 AM
1 Answer/Comment
To debit an account is to enter an amount on the left sie of the account. TRUE
Added 5/4/2015 5:55:10 AM
This answer has been confirmed as correct and helpful.
Revenues (Points : 1) decrease liabilities. decrease cash. increase expenses. increase owner's equity.
Weegy: Revenues increase owner's equity. (More)
Question|Asked by pooh89
Expert Answered
Updated 5/4/2015 5:57:28 AM
0 Answers/Comments
Liability accounts normally have debit balances. (Points : 1) True False
Question|Asked by pooh89
Not Answered
Updated 5/4/2015 5:54:32 AM
1 Answer/Comment
Liability accounts normally have debit balances. FALSE - they normally have credit balances.
Added 5/4/2015 5:54:32 AM
This answer has been confirmed as correct and helpful.
An increase or decrease in any asset, liability, owner's equity, revenue, or expense is always accompanied by an offsetting change within the basic accounting elements. (Points : 1) True False
Question|Asked by pooh89
Updated 6/15/2015 7:06:09 AM
1 Answer/Comment
An increase or decrease in any asset, liability, owner's equity, revenue, or expense is always accompanied by an offsetting change within the basic accounting elements. TRUE
Added 6/15/2015 7:06:09 AM
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [6/30/2015 5:30:33 PM], Rated good by debnjerry
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