Ashworth College _ A01.V.10 -...

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6/26/2017 Ashworth College : A01.V.10.2 Introduction to Accounting : Tests & Quizzes 1/6 5.0/ 5.0 Points 5.0/ 5.0 Points 5.0/ 5.0 Points Online Exam 1_01 Return to Assessment List Part 1 of 1 ­ 95.0/ 100.0 Points Question 1 of 20 Bonnie's Baskets purchases $4,000 worth of office equipment on account. This causes A. Cash and Capital to decrease. B. Office Equipment and Accounts Payable to increase. C. Office Equipment to decrease and Accounts Payable to increase. D. Accounts Payable to increase and Capital to decrease. Question 2 of 20 Bob purchased a new computer for the company on account. The transaction will __________. A. increase Computer; increase Capital B. decrease Cash; increase Accounts Payable C. decrease Cash; increase Computer D. increase Computer; increase Accounts Payable Question 3 of 20 The type of business organization that can continue indefinitely is known as a __________. A. sole proprietorship B. partnership C. corporation D. None of the above answers are correct. A01.V.10.2 Introduction to Accounting    Tests & Quizzes Tests & Quizzes
6/26/2017 Ashworth College : A01.V.10.2 Introduction to Accounting : Tests & Quizzes 2/6 5.0/ 5.0 Points 5.0/ 5.0 Points 5.0/ 5.0 Points 5.0/ 5.0 Points Question 4 of 20 A legal firm would be considered a __________.

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