Question 9 of 20 50 50 points what would be the

This preview shows page 3 - 6 out of 8 pages.

Question 9 of 20 5.0/ 5.0 Points
What would be the effect on accounts if the owner withdrew cash?
Question 10 of 20 0.0/ 5.0 Points A liability would be credited and an expense debited if __________.
Question 11 of 20 5.0/ 5.0 Points The accounts payable account is __________.
Question 12 of 20 5.0/ 5.0 Points
The business bought supplies on account. To record this __________. A. an expense is debited and a liability is credited B. an asset is debited and an asset is credited C. an asset is debited and a liability is credited D. None of the above answers are correct.
Question 13 of 20 5.0/ 5.0 Points The business incurred an expense and paid it immediately. To record this __________.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture