Question
19 2 pts All State Company uses accrual accounting. Which statement below is a false statement? O revenue is recorded in an adjusting entry if
19 2 pts All State Company uses accrual accounting. Which statement below is a false statement? O revenue is recorded in an adjusting entry if owed services are provided during the accounting period. O Under accrual accounting, revenue is recorded if a company receives a cash advance for services that will be provided during a future accounting period. revenue is recorded in an adjusting entry if goods are provided during the period and the customer is billed during the following period. O revenue is recorded if goods are provided on account. Question 20 2 pts Ripson Company issues common stock for $40,000 and uses $30,000 of the cash to purchase equipment. As a result, Ripson Company's O assets increase by $10,000. O stockholders' equity decreases by $40,000. O assets increase by $40,000. O assets remain unchanged
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