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Which of the following will decrease owner’s equity? An exchange of assets The purchase of an asset on credit An investment by the owner A withdrawl by the owner
A withdrawal by the owner will decrease owner's equity.
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Asked 3/15/2017 9:24:08 PM
Updated 7/13/2019 9:47:50 PM
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A withdrawal by the owner will decrease owner's equity.
Added 7/13/2019 9:47:50 PM
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All changes in account balances are NOT caused by transactions between the business and another business or individual. False.

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The twelve-month period a business chooses for its accounting period is a: Fiscal year.
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Which of the following are examples is NOT a types of credit sales? Closed-account credit cards. Business credit cards. Bank credit cards. Cards issued by credit card companies.
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Updated 7/13/2019 9:31:09 PM
1 Answer/Comment
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Sales are a temporary ________ account. Liability Asset Revenue Expense User: Internal control over a company's assets should include the following procedures: Responsibilities and duties of employees will be divided. All cash receipts will be deposited into the bank the same day they arrive All cash payments will be made by check (except petty cash). All of these answers are correct.
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Updated 7/13/2019 9:42:55 PM
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All of these answers are correct. Internal control over a company's assets should include the following procedures: Responsibilities and duties of employees will be divided, all cash receipts will be deposited into the bank the same day they arrive and all cash payments will be made by check (except petty cash).
Added 7/13/2019 9:40:52 PM
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Sales are a temporary revenue account.
Added 7/13/2019 9:42:55 PM
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Items owned by the business such as land, supplies and equipment are: Assets. Liabilities. Owner’s equipment. Expense.
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Updated 7/13/2019 9:44:36 PM
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Added 7/13/2019 9:44:36 PM
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Confirmed by Sting [7/14/2019 1:33:00 AM]
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