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- Multiple ChoicePlease save your changes before editing any questions.The Accounting Equation must always be in balance?TrueFalse
- Multiple ChoicePlease save your changes before editing any questions.AssetsAnything owed by the companyAnything owned of value by the company
- Multiple ChoicePlease save your changes before editing any questions.Supplies purchased on account that will be paid for at a later date is a liability.TrueFalse
- Multiple ChoicePlease save your changes before editing any questions.The owner's worth after assets are used to pay all liabilities is the definition ofOwner's EquityLiabilitiesAssets
- Multiple ChoicePlease save your changes before editing any questions.Always keep business and personal records separate?TrueFalse
- Multiple ChoicePlease save your changes before editing any questions.Cash received means Cash is:DecreasedIncreased
- Multiple ChoicePlease save your changes before editing any questions.Paid Cash means cash has:DecreasedIncreased
- Multiple ChoicePlease save your changes before editing any questions.Bought supplies on account means Supplies has increased and what other account has changed?Cash has decreasedAccount Payable has increased