QUESTION 31

1. Which of the following accounts is increased by a debit?

   	a.	Consulting Revenue
   	b.	Accounts Payable
   	c.	Unearned Revenue
   	d.	Expenses

2.5 points

QUESTION 32

1. Which of the following accounts is not included in the closing entry process?

   	a.	Consulting Revenue
   	b.	Unearned Revenues
   	c.	Rent Expense
   	d.	Dividends

2.5 points

QUESTION 33

1. Which of the following accounts would not be included in the journal entry to record payroll tax expense?

   	a.	FUTA Unemployment Tax Payable
   	b.	Federal Income Tax Payable
   	c.	SUTA Unemployment Tax Payable
   	d.	FICA - Medicare Taxes Payable

2.5 points

QUESTION 34

1. Which of the following is a disadvantage of corporations?

   	a.	Shareholder's limited liability
   	b.	Separate legal entity
   	c.	Corporate tax laws
   	d.	Continuous life

2.5 points

QUESTION 35

1. Which of the following is an advantage of Bond Financing when compared to Equity Financing?

   	a.	Bonds require payment of both periodic interest and par value at maturity
   	b.	Bonds do not impact ownership control
   	c.	Interest on bonds is not tax deductible
   	d.	None of the above

2.5 points

QUESTION 36

1. Which of the following is not a plant asset?

   	a.	Vehicles
   	b.	Land
   	c.	Buildings
   	d.	Patents

2.5 points

QUESTION 37

1. Which of the following is not a principle of internal control?

   	a.	Separate record keeping from custody of assets
   	b.	Divide responsibilities for related transactions
   	c.	Insure assets and bond key employees
   	d.	Exclude technology from all controls

2.5 points

QUESTION 38

1. Which of the following statements is not true?

   	a.	The normal balance of an expense account is a credit.
   	b.	The normal balance of accounts receivable is a debit.
   	c.	The normal balance of dividends is a debit.
   	d.	The normal balance of common stock is a credit.

2.5 points

QUESTION 39

1. XYZ Inc. establishes a petty cash fund with a beginning balance of $400. The journal entry to record the establishment of the petty cash fund includes a debit to:

   	a.	Petty Cash
   	b.	Accounts Receivable
   	c.	Cash
   	d.	Accounts Payable

Please answer everything and I will upvote.