1. Accumulated other comprehensive income increases or decreases

Multiple Choice

• Earnings per share.

• Net income.

• Shareholders Equity.

• Income from continuing operations.

2. Which of the following is a true statement?

Multiple Choice

• Revenue decreases owners equity and increases liabilities.

• Expenses increase owners equity and decrease liabilities.

• Revenue decreases owners equity and expenses increase owners equity.

• Revenue increases owners equity and expenses decrease owners equity.

3. A debit does which of the following?

Multiple Choice

• Decreases the value in a liability account.

• Increases the value in an asset account.

• Increased the value in a contra-asset account.

• Increases the value in an asset account and also decreases the value in a liability account.