Question 50 The assets section of the balance sheet normally presents assets in the order of smallest to largest dollar amounts the order in which they will be converted into cash or used in operations the order of largest to smallest dollar amounts alphabetical order A Click Submit to complete this assessment. Question 49 Which of the following best describes accounting? It is used only for filling out tax returns. o It only provides information used internally by managers. It records economic data but does not communicate the data to users according to any specific rules. It is an information system that provides reports to internal and external users regarding the economic activities and condition of a business. Question 48 Earning revenue decreases assets, increases liabilities increases assets, increases stockholders' equity increases one asset, decreases another asset increases assets, decreases stockholders' equity estion 45 The primary role of accounting is to determine the amount of taxes a business will be required to pay to taxing entities True False Question 47 Which of the following types of accounts have a normal debit balance? assets, expenses assets, liabilities revenues, liabilities liabilities, expenses