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- Multiple ChoicePlease save your changes before editing any questions.How would an accountant record an increase in cash?DebitCredit
- Multiple ChoicePlease save your changes before editing any questions.How would an accountant record an increase in sales?debitcredit
- Multiple ChoicePlease save your changes before editing any questions.Expensedebitcredit
- Multiple ChoicePlease save your changes before editing any questions.credits on theleftright
- Multiple ChoicePlease save your changes before editing any questions.The period of time covered by an accounting report is the accounting period.TrueFalse
- Multiple ChoicePlease save your changes before editing any questions.Any amounts owed by a business and reported on the balance sheet are referred to as ________________.assetsliabilitiesprofitexpenses
- Multiple ChoicePlease save your changes before editing any questions.The basic accounting equation is Assets=Liabilities + _______________________.IncomeOwner's EquityExpensesProfit
- Multiple ChoicePlease save your changes before editing any questions.An increase in owner's equity resulting from the operation of a businessassetexpensewithdrawlrevenue
- Multiple ChoicePlease save your changes before editing any questions.Anything of value that is owned by the company (such as cash, accounts receivables, vehicles, etc.) are reported on the balance sheet and are referred to as _______________.assetsliabilitiesprofitincome