Which of the following would increase assets and increase liabilities? Provide s

Question

Which of the following would increase assets and increase liabilities? Provide services to customers on account Purchase office supplies on account Pay dividends to stockholders Receive a utility bill but do not pay it immediately Amounts owed to suppliers for supplies purchased on account are defined as: Cash Accounts Receivable Accounts Payable Supplies Expense. Purchasing office equipment on account has what impact on the accounting equation? Stockholders' equity decreases and assets increase B. Liabilities increase and assets increase. Assets decrease and liabilities decreases. Assets increase and stockholders' equity increases. Air France collected cash on February 4 from the sale of a ticket to a customer on January 26. The flight took place on April 5. According to the revenue recognition principle, in which month should Air France have recognized this revenue? January. February April. Evenly in each of the three months. The revenue recognition principle slates that: Revenue should be recognized in the period the cash is received. Revenue should be recognized in the period earned Revenue should be recognized in the balance sheet. Revenue is a component of common stock13.Which of the following is (are) true regarding the characteristics of adjusting entries? Adjusting entries reduce the balance of revenue, expense, and dividend accounts to zero. Adjusting entries allow for the proper recognition of revenue. Adjusting entries allow for the proper recognition of expenses. Adjusting entries allow for the proper recognition of revenue and expenses. Adjusting entries are primarily needed for Cash-basis accounting. Accrual-basis accounting Current value accounting. Manual accounting systems. When a magazine sells subscriptions to customers, it is an example of: An accrued expense. An accrued revenue. A prepaid expense. An unearned revenue. Occupational fraud: A Is the use of one's occupation for personal enrichment through the deliberate misuse or misapplication of the employing organization's resources. Occurs in only a few organizations and generally involves minor amounts. Will be prevented when companies employ an auditor. Is committed only by lower-level employees.

Explanation / Answer

Answer:-

1) D

2) C

3) D

4) B

5) C

6) D

7) B

8) D

9) A

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