quiz3 w-answers - 1. Expenses decrease retained earnings....

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1. Expenses decrease retained earnings. True Fals e Score: 1 of 1 2. Every account has a left or credit side and a right or debit side. True Fals e Score: 1 of 1 3. Every transaction affects at least two accounts. True Fals e Score: 1 of 1 4. Assets are increased with credits. True Fals e Score: 1 of 1 5. Transactions are recorded in chronological order in the general
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journal. True Fals e Score: 1 of 1 6. The entire group of accounts maintained by a company is referred to collectively as the Journal. True Fals e Score: 1 of 1 7. Issuance of Stock is an investing activity. True Fals e Score: 0 of 1 8. Retained Earnings is decreased by: Assets. Expenses . Owner’s investments. Revenues.
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Score: 1 of 1 9. If an expense is paid with cash: Expenses will decrease. Liabilities will increase. Retained earnings will increase. Assets will decrease . Score: 1 of 1 10. If cash is received in advance from a customer: Liabilities will increase. Stockholder’s equity will
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quiz3 w-answers - 1. Expenses decrease retained earnings....

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