Q2. The principle requires that expenses be matched with revenues. A. Monetary Unit Assumption B. Expenses...

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Q2. The principle requires that expenses be matched with revenues. A. Monetary Unit Assumption B. Expenses Recognition Principle C. Cost principle D. Revenue Recognition Principle Q3. A partnership business generally has limited liability. A. True B. False Q4. How is the owner's equity calculated? Q5. During the year, assets increased by $ 90,000 and liabilities decreased by $ 80,000. What was the owner's equity at the end of the year? Q6. On August 31 of the current year, the assets and liabilities of Martha Inc. as follows: Supplies: $10,000; Cash $28,000; Building $65,000; Expenses $9,000; Accounts Payable $35,000; Accounts Receivable $32,000; Revenue $45,000; Drawings $2,000. What is the amount of owner's capital? Q2. The principle requires that expenses be matched with revenues. A. Monetary Unit Assumption B. Expenses Recognition Principle C. Cost principle D. Revenue Recognition Principle Q3. A partnership business generally has limited liability. A. True B. False Q4. How is the owner's equity calculated? Q5. During the year, assets increased by $ 90,000 and liabilities decreased by $ 80,000. What was the owner's equity at the end of the year? Q6. On August 31 of the current year, the assets and liabilities of Martha Inc. as follows: Supplies: $10,000; Cash $28,000; Building $65,000; Expenses $9,000; Accounts Payable $35,000; Accounts Receivable $32,000; Revenue $45,000; Drawings $2,000. What is the amount of owner's capital?