If the company pays the electricity bill for the month 1200 $, then: Select one: O A. liabilities decrease and expenses increase O B. liabilities increase and asset increase O Casset increase and expenses increase O D. asset decrease and expenses increase Which of the following statements is false? Select one: O A. Revenues are increased by debits O B. Revenues increase owner's equity C. Revenues are a positive factor in the computation of net income O D. Revenues have normal credit balances djusting the accounts Jump to. Which of the following rule isincorrect Select one: A Debits increase the capital account B. Debits decrease liability accounts O C. Credits increase revenue accounts D. Credits decrease the drawing account 12 ABC company paid cash to the supplier, then: it of Select one: A debit cash and credit account payable O B. credit cash and debit account payable C. debit account payable and debit cash D. debit account receivable and credit cash 13 The Monetary unit assumption means that out of Select one: O A only items that can be expressed in term of money are reported B. all assets and liabilities are reported in their historical costs Cintangible assets are not reported in the balance sheet D. assets and liabilities must expressed in terms of money only vious page NDOUT 3. adjusting the accounts Jump to 0:1 Toto/ ENG 00 D F2 F3 F4 F5 F6 F7 F8 D A # $ 2 I 3 4 { & % 5 0 6 1 7 Y tuestion 16 The double-entry system requires that each transaction must be recorded answered Wanted out of 100 Select one O A in two sets of books B. in at least two different accounts C in a journal and in a ledger O D. first as a revenue and then as an expense P Flag Question Previous page HANDOUT 3. adjusting the accounts Jumtoto Total ENG D F4 1 ES F6 F7 FB 3 F9 - a $ A ! 2 T 3 & % 5 4 & 0 6 1 7 Y * 8 E S R Y ! U (5 lo: . SD [ F] GS 1