Accounting - Accounting Questions and Answers 1 Which of...

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Accounting Questions and Answers 1 Which of the following events cannot be quantified into dollars and cents and recorded as an accounting transaction? The payment made to a new CPA firm to perform an audit. The purchase of a new computer. The sale of store equipment. An increase in the income tax rate. d 2 GAAP stands for: Generally Agonizing Auditing Procedures. Generally Accepted Accounting Principles. Generally Accepted Auditing Principles. Generally Awful Accounting Procedures. b 3 Stockholder's equity is best depicted by the following: Assets = Liabilities. Assets - Liabilities. Net Income + Assets. Total Income - Total Expenses. b 4 If expenses were paid in cash, then. .. assets will decrease. liabilities will decrease. stockholder's equity will increase. assets will increase. a 5 Which of the following statements is true? Debits decrease assets and increase liabilities. Credits are not normally posted to income accounts. Credits decrease assets and increase liabilities.
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Accounting - Accounting Questions and Answers 1 Which of...

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