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Which of the following statements is true? Select one: a. We can only find the opening balance of Capital on the 10-column worksheet when there
Which of the following statements is true? Select one: a. We can only find the opening balance of Capital on the 10-column worksheet when there is no owner's contribution. b. We can always find the opening balance of Capital on the 10-column worksheet. c. We can only find the opening balance of Capital on the 10-column worksheet when there is no owner's drawings. d. We can never find the opening balance of Capital on the 10-column worksheet. Using accrual accounting, expenses are recorded and reported only Select one: a. when they are incurred whether or not cash is paid. b. if they are paid before they are incurred. c. when they are incurred and paid at the same time. d. if they are paid after they are incurred. C An adjusting entry: Select one: a. affects an income statement account. b. affects two balance sheet accounts. C c. affects a balance sheet and an income statement account. d. affects Cash at bank account
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