16-20 just 5 of them

14) The general term for an expense that has not been paid or revenue that has not been received and has not yet been recorded in the accounts is: a. contra asset. b. prepayment. C. asset. d. accrual 15) The best interpretation of the word credit is the: a. offset side of an account b. increase side of an account. c.right side of an account. d. decrease side of an account. 16) A business that receives cash in advance of performing a service will: a. debit cash and credit prepaid expenses. b. debit uneared revenue and credit accounts payable. C.debit cash and credit unearned revenue. d. debit cash and credit accounts receivable. 17) An accountant has debited an asset account for $2,500 and credited a liability account for $1,500. What can be done to complete the recording of the transaction? a. nothing further must be done. b. debit an equity account for $1,000 c. debit another asset account for $1,000. d. credit a different asset account for $1,000. Page 4 of 5 18) Shareholders invest $35,000 in cash in starting a real estate office operating as a company. The journal entry for the recording this transaction in general journal is: a. debit cash 35,000 and credit share capital 35,000. b. debit share capital 35,000 and credit cash 35,000 C.debit cash 35,000 and credit accounts payable 35,000. d. none of the above. 18) Shareholders invest $35,000 in cash in starting a real estate office operating as a company. The journal entry for the recording this transaction in general journal is: a. debit cash 35,000 and credit share capital 35,000. b. debit share capital 35,000 and credit cash 35,000. C. debit cash 35,000 and credit accounts payable 35,000. d. none of the above. 19) The accounting equation can be used to analyse transactions for: a. a company. b. a sole trader. c. a not-for-profit entity. d. all of the above. 20) Which of the following items has no effect on equity? a. Expense. b. Dividends. C. Land purchase. d. Revenue