Question
Please highlight the following answers only select one answer for each question below What does owner's equity NOT refer to? The difference between revenue and
Please highlight the following answers only select one answer for each question below
What does owner's equity NOT refer to?
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The difference between revenue and expenses
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The amount of the owner's investment
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The difference between assets and liabilities
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The value of the owner's investment
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How does bookkeeping for a business and bookkeeping for an individual compare?
Question 7 options:
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They are basically the same.
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They are exactly the same.
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They are quite different.
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They are completely different.
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When the petty cash fund is started, a debit is recorded to which account?
Question 8 options:
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Petty Cash Control
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Cash
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Bank
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Petty Cash
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What is the petty cash fund used for?
Question 9 options:
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Investing excess funds not required for the near future
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Issuing cheques; same as the cash payments journal
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Small expenditures for which cheques would be impractical
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Keeping small amounts of cash before depositing them into the bank
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