6. Complete the sentence - 'Debit the receiver and credit the a) Account Payable b) Giver c) Account Receivable d) Bad debts 7. Dollar Tree Limited bought a piece of equipment worth $10,000 on credit. It will lead to a) Equipment decreased by $10,000 & Account Receivable decreased by $10,000. b) Equipment increased by $10,000 & Account Payable increased by $10,000. c) Equipment decreased by $10,000 & Account Receivable increased by $10,000. d) Equipment increased by $10,000 & Bank loan increased by $10,000. 8. We paid Account Payable $5,000 by cash. The result will lead to a) Account Payable increased by $5,000 & Cash decreased by $5,000. b) Account Payable decreased by $5,000 & Cash decr used by $5,000. c) Account Payable increased by $5,000 & Cash increased by $5,000. d) Account Payable decreased by $5,000 & Cash increased by $5,000. 9. The owner contributed $7,500 cash and $15,000 vehicle to the business. It will lead to a) Cash increased by $7,500, Vehicle increased by $15,000 & Equity increased by $22,500. b) Cash increased by $7,500 & Equity increased by $7,500. c) Cash increased by $7,500, Vehicle increased by $15,000 & Equity increased by $7,500. d) Cash increased by $7,500, Vehicle increased by $15,000 & Equity decreased by $22,500. 10. Patents, Copyrights and Trademarks are examples of a) Current assets b) Fixed assets c) Intangible assets d) Investments of a company

6. Complete the sentence - 'Debit the receiver and credit the a) Account Payable b) Giver c) Account Receivable d) Bad debts 7. Dollar Tree Limited bought a piece of equipment worth $10,000 on credit. It will lead to a) Equipment decreased by $10,000& Account Receivable decreased by $10,000. b) Equipment increased by $10,000 \& Account Payable increased by $10,000. c) Equipment decreased by $10,000& Account Receivable increased by $10,000. d) Equipment increased by $10,000& Bank loan increased by $10,000. 8. We paid Account Payable $5,000 by cash. The result will lead to a) Account Payable increased by $5,000 \& Cash decreased by $5,000. b) Account Payable decreased by $5,000& Cash decreased by $5,000. c) Account Payable increased by $5,000& Cash increased by $5,000. d) Account Payable decreased by $5,000 \& Cash increased by $5,000. 9. The owner contributed $7,500 cash and $15,000 vehicle to the business. It will lead to a) Cash increased by $7,500, Vehicle increased by $15,000 \& Equity increased by $22,500. b) Cash increased by $7,500& Equity increased by $7,500. c) Cash increased by $7,500, Vehicle increased by $15,000 \& Equity increased by $7,500. d) Cash increased by $7,500, Vehicle increased by $15,000& Equity decreased by $22,500. 10. Patents, Copyrights and Trademarks are examples of a) Current assets b) Fixed assets c) Intangible assets d) Investments of a company