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5. A business that makes a product to sell is called a manufacturing business. (Points : 1) True False
A business that makes a product to sell is called a manufacturing business. TRUE.
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Asked 2/3/2015 10:22:38 AM
Updated 2/3/2015 10:38:55 AM
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5. A business that makes a product to sell is called a manufacturing business. (Points : 1) True False
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jeifunk
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A business that makes a product to sell is called a manufacturing business. TRUE.
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Added 2/3/2015 10:38:55 AM
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6. The terms "profit and loss statement" or "operating statement" are sometimes used as synonyms for the balance sheet. (Points : 1) True False
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Question
Updated 2/7/2015 11:07:55 AM
1 Answer/Comment
3
debnjerry
M
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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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.
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Updated 2/5/2015 7:15:39 PM
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debnjerry
M
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.
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Question
Updated 11/25/2017 11:52:49 AM
1 Answer/Comment
3
emdjay23
Examples of revenue accounts include all of the following EXCEPT wages.
Added 11/25/2017 11:52:49 AM
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yumdrea
[11/25/2017 12:54:24 PM]
18. A debit (Points : 1) is on the left side. decreases assets. increases liabilities. increases owner's equity.
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Question
Updated 2/5/2015 7:14:16 PM
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debnjerry
M
A debit is on the left side.
Added 2/5/2015 7:14:16 PM
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22. A trial balance is taken periodically to check the equality of the debits and credits. (Points : 1) True False
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Updated 12/20/2017 8:46:57 AM
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sujaysen
A trial balance is taken periodically to check the equality of the debits and credits. True.
Added 12/20/2017 8:46:57 AM
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yumdrea
[12/20/2017 9:33:50 AM]
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