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Depositing a gift from a family member is regarded as: a) revenue b) capital c) a reverse expense d) a liability Paying cash for entertainment:

Depositing a gift from a family member is regarded as:
a) revenue
b) capital
c) a reverse expense
d) a liability

Paying cash for entertainment:

a) involves two entries to the balance sheet
b) involves two entries to the income statement
c) involves an entry to the balance sheet and an entry to the income statement
d) involves two entries to the balance sheet and one entry to the income statement

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