MC 02.091 Which group of account is comprised of only assets? a Uneamed revenue, Prepaid Expenses, Cash repaid penses, dingo, Patents Accounts Receivable, Revenue, Cash d. Cash, Accounts Payable, Buildings 10 MC 02-008 the count e r at Monroe Entertainment Coare listed below. All accounts have no M ount Payable Accounts Receivable $1.500 1,000 2.000 1,200 1,200 Fees Earned Insurance Expense Land Wapes Expense Capital $3.600 1,300 3.000 1.400 8.800 Arnering Total assets are # $8.000 $10,000 $9,800 d. 39.700 11 MC 02-131 Gently Laser Clinic purchased laser equipment for $3,500 and paid $2,250 down, with the remainder to be and later the correct entry would be Cash 2,250 Accounts Payable 6,250 Equipment 8,500 b. Equipment 8.500 Accounts Payable 6,250 Cash 2,250 C Equipment Expense 8,500 Accounts Payable 2,250 Cash 6,250 d. Equipment 2,250 Cash 2,250 12 TF 03-002 Generally accepted accounting principles require the accrual basis of accounting (the False 13 TF03-011 Revenues and expenses should be recorded in the same period to which they relate