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i need help with these within 10 MINUTES PLEASE! Question 9 (1 point) Mulgrave Machinery Ltd takes out a bank loan for $120,000 and combines
i need help with these within 10 MINUTES PLEASE! Question 9 (1 point) Mulgrave Machinery Ltd takes out a bank loan for $120,000 and combines the loan with $200,000 in cash to buy a processing shed for $320,000. A complete accounting record of these events would mean assets increase by $320,000; liabilities increase by $120,000 assets increase by $320,000; equity increases by $320,000 assets and liabilities increase by $120,000; assets increase and decrease by $200,000 assets and liabilities increase by $120,000; assets increase and decrease by $320,000 Question 3 (1 point) Saved Which one of the following is a liability? cash receivable from employees due from shareholders bank overdraft retained earnings Question 4 (1 point) Saved Which one of the following is the BEST definition of liabilities? obligations of the enterprise arising from past transactions amounts owing in the future to creditors and owners estimates of the enterprise's future cash outflows expected payments to banks
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