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please answer as many as you can.... much appreciated thank you 1. A business received a bill for expenses incurred during the month; the bill

please answer as many as you can.... much appreciated thank youimage text in transcribed

1. A business received a bill for expenses incurred during the month; the bill will be paid in the following month. Which of the following is true? a liability is increased and an asset is increased a liability is increased and an asset is decreased a liability is increased and owner's equity is decreased a liability is increased and owner's equity is increased QUESTION 2 1. A credit would not be used to indicate an increase in which of the following accounts? Cash Accounts payable Paid-in-capital in excess of par value, common Unamortized bond premium QUESTION 3 1. A type 2 adjustment is made to a(n)? expense account when cash is expended for a future benefit expense account when a benefit obtained earlier has expired revenue account when cash is received for services already provided to a customer revenue account when goods delivered earlier are returned QUESTION 4 1. Accumulated depreciation is classified on the balance sheet as a[n)? owner's equity account contra-asset account liability account contra-expense account QUESTION 5 1. All of the following choices are correct statements about a Trial Balance except: Proves all transactions have been correctly analyzed and recorded in proper account(s) Equal debits and credits have been recorded for all transactions The addition of the account balances has been performed correctly Provides proof that the ledger is in balance QUESTION 6 1. An asset's book value equals historical cost minus accumulated depreciation equals historical cost minus residual value is the expired historical cost of an asset is the same as residual value

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