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Which statement about revenue is true? Only sales and interest are considered revenue Revenue is earned through business activities Every deposit brings revenue into the business O A capital contribution is always a business' first revenue Which of the following information is NOT found under the Company Information window? O Name of the company The company's BN (Business Number) The company's fiscal period Name of the company's owner(s) Question 5 (1 point) Which of the following statements about Quickbooks is NOT true? Select all that apply. Quickbooks logs you out automatically after 10 mins of inactivity Quickbooks files cannot be saved on your computer Quickbooks is mostly suitable for small and medium sized businesses Quickbooks files have a distinct file extension Which of the following are NOT transaction cycles? Select all that apply. Purchases Banking Reports Sales Payroll Which of the following statements about the Accounting Cycle is TRUE? Select all that apply. Reports are not part of the Accounting Cycle The Accounting Cycle takes place in one fiscal year Multiple accounting cycles cannot take place in one year Lists are part of the Accounting Cycle If you make a deposit in Quickbooks, which of the following accounts is DEBITED? O Credit card Owner's capital Chequing (bank account) Petty cash What type of account is Owner - Capital? O Equity Asset O Expense O Liability Question 10 (1 point) If owners contribute a loan to the company, then that loan does not have to be paid back. True False Question 11 (1 point) Which of the following accounts have a normal debit balance? Select all that apply. Assets Equity Liabilities Revenues Expenses Question 12 (1 point) Which of the following accounts have a normal credit balance? Select all that apply. Liabilities Expenses Assets Equity Revenues Question 13 (1 point) Which of the following is an example of unrelated income? O Capital investment Owner contribution Interest charged by vendors O Loan proceeds O Interest charged to customers Question 14 (1 point) Which of the following is NOT true about equity accounts? Equity accounts represent the capital contributed by the owners of the business to the business Equity accounts are affected by debits and credits the same way Liability accounts are affected Retained Income represents the difference between all sales and purchases since the business began Equity accounts represent and track the flow of money in and out of the business Nuestion 15/1 point) Saved