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ASAP! What effect do revenues have on the following basic accounting equation? Assets = Liabilities Owners' Equity Select the single best answer: A revenues increase
ASAP! What effect do revenues have on the following basic accounting equation? Assets = Liabilities Owners' Equity Select the single best answer: A revenues increase liabilities B. revenues increase equity C. revenues decrease equity D. revenues are not related to the equation What does a Cash Disbursements Journal track? Select the single best answer: A. day-to-day sales B. daily cash received C. purchases of products for sale D. the daily use of cash What information is NOT shown on a comparative balance sheet? Select the single best answer: A. information for the previous fiscal year B. Information for the current fiscal year C. income, expenses, and net differences D. assets, liabilities, and equity Which of the following items can be found in the Assets category? Select the single best answer: A. cash B. credit card bills C. capital accounts D. accruals of taxes owed
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