quiz 3 - Question 1 Question 1 1. Stockholders equity is...

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Question 1 Question 1 1. Stockholders’ equity is increased by Answer dividends. revenues. expenses. liabilities. 1 points Question 2 Question 2 1. If expenses are paid in cash, then Answer assets will increase. liabilities will decrease. stockholders’ equity will increase. assets will decrease. 1 points Question 3 Question 3 1. A revenue generally Answer
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increases assets and liabilities. increases assets and stockholders’ equity. increases assets and decreases stockholders’ equity. leaves total assets unchanged. 1 points Question 4 Question 4 1. Courtney Company purchased equipment for $1,800 cash. As a result of this event, Answer equity decreased by $1,800. assets increased by $1,800. assets remained unchanged. Both a and b. 1 points Question 5 Question 5 1. Howard Company had a transaction that caused a $5,000 increase in both assets and total liabilities. This transaction could have been a(n): Answer Purchase of office equipment for $12,000, paying $7,000 cash and issuing
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This note was uploaded on 02/19/2011 for the course BUS 201 taught by Professor Tomos during the Spring '11 term at Indian Institute Of Management, Ahmedabad.

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quiz 3 - Question 1 Question 1 1. Stockholders equity is...

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