stion 2 Owner's equity is decreased by yet wered Select one O a assets Tked out of 0 b. drawing Flag estion O C. liabilities O d. revenues rd My courses Faculty of Business Accounting and Finance 3 The starting point of the accounting process is out of Select one: a. None of these answers are correct b. identifying economic events. c recording economic events. od communicating information to users. vious page NDOUT 3: adiun My courses Faculty of Business Accounting and Finance Department Ac Collection of a $1,500 Accounts Receivable Select one: a decreases an asset $1,500; decreases a liability $1,500. O b. increases an asset $1,500; decreases an asset $1,500. O C. decreases a liability $1,500; increases owner's equity $1,500 d. increases an asset $1,500; decreases a liability $1,500. Dashboard My courses Faculty of Business Accounting and Finance Question 5 Unearned revenue is classified as Not yet answered Select one Marked out of a. a revenue account b. a contra-revenue account Flag question c. a liability account d. an asset account Previous page HANDOUT 3. adjusting the accounts Jump to