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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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