1. A Debit would make which of the following accounts decrease?

a. accounts payable

b. utilities expense

c. supplies

d. dividends

2. Which of the following statements about financial accounting is true?

a. financial accounting reports in the U.S. are prepared using Generally Accepted Accounting Principles

b. financial accounting reports are only for internal users

c. financial accounting reports can only be prepared once per year

d. financial accounting reports are prepared only for the internal revenue service

3. Care Company sold $4.4 million of protective equipment during the current year of operations. The company received payments of $4 million from its customers for these goods. The company's income statement for the current year would report

a. accounts receivable of $400,000

b. sales revenue of $4.4 million

c. cash of $4 million

d. sales revenue of $4 million