ACCT 105 WEEK 1 QUIZ.docx - 100.0 100.0 Points Question 1...

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100.0/ 100.0 PointsQuestion 1 of 1010.0/ 10.0 PointsThe payment of business debts:A. Increases a liability account.B. Increases stockholders’ equity.C.Has no effect on stockholders’ equity.D. Increases assets.Answer Key: C
Question 2 of 1010.0/ 10.0 PointsA creditor of the partnership has a claim against an individual partner’s personal assets if the partnership has no cash.
Question 3 of 1010.0/ 10.0 PointsInvestment of additional cash in the business by the stockholders would:
Question 4 of 1010.0/ 10.0 PointsIf liabilities have increased by exactly the same amount that assets have increased, stockholders’ equity will have:
Question 5 of 1010.0/ 10.0 PointsEquities are composed of assets and stockholders’ equity.A. TrueB

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