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what is the answer? 10 to 15 10) What is the difference between Bookkeeping and Accounting? 11) The basic accounting equation is A) Assets =

what is the answer? 10 to 15

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10) What is the difference between Bookkeeping and Accounting? 11) The basic accounting equation is A) Assets = Revenues - Expenses. B) Assets = Liabilities - Owner's Equity. C) Assets = Owner's Equity - Liabilities. D) Assets = Liabilities + Owner's Equity. 12) An acceptable variation of the accounting equation is A) Assets - Liabilities = Owner's Equity. B) Assets + Owner's Equity = Liabilities. C) Assets = Liabilities . Owner's Equity. D) All of these answers are correct. 13) If total liabilities are $22,000 and owner's equity is $17,000, the total assets must be A) $39,000. B) $5,000. C) $20,000. D) $17,000. 14) The cash purchase of a truck was recorded as a purchase on credit. This error would mean A) assets were overstated. B) liabilities were overstated. C) Answers A and B are correct. D) None of the above are correct. 15) The payment of accounts payable would A) increase both assets and liabilities. Bj increase assets and decrease liabilities. C) decrease both assets and liabilities. DJ decrease assets and increase liabilities

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