Question No 1: Multiple Choice Questions: Write the correct answer in your answer sheet. (Marks 1) a. During September 2018, AXN Company's assets decreased by $55,000 and its liability decreased by $68,000. Therefore the owner's equity is- O Increased by $13,000 O Decreased by $13,000 O Decreased by $123,000 O Increased by $123,000 b. Which of the following events is not recorded in the accounting records? O Equipment is purchased on account. O An employee is terminated. O A cash investment is made into the business. O Withdrawal cash for personal use. Question No 2: You purchased a laptop for your online class. Do your think is it your asset or not? Explain. (Marks 1)