C office equipment to decrease and accounts payable

  • Ashworth College
  • EXAM 1
  • Test Prep
  • Yankee7903
  • 5
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Exam 1

Question 16   of 20 5.0 / 5.0 Points Bonnie 's Baskets purchases $ 4,000 worth of office equipment on account . This causes
A. Cash and Capital to decrease .
B. Office Equipment and Accounts Payable to increase .
C. Office Equipment to decrease and Accounts Payable to increase .
D. Accounts Payable to increase and Capital to decrease .
Answer:  B.   Office Equipment and Accounts Payable to increase .
Question 17   of 20 5.0 / 5.0 Points A partnership is a business that is __________.
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Question 18   of 20 5.0 / 5.0 Points Which of the following would result if the business purchased supplies on credit ?
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Question 20   of 20 5.0 / 5.0 Points The type of business organization that can continue indefinitely is known as a __ _ _______.
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C. Office Equipment to decrease and Accounts Payable to increase. D. Accounts Payable to increase and Capital to decrease.
Question 17 of 20 5.0/ 5.0 Points A partnership is a business that is __________.
Question 18 of 20 5.0/ 5.0 Points Which of the following would result if the business purchased supplies on credit?
Question 19 of 20 5.0/ 5.0 Points Katie's Vegetarian Restaurant, with total assets of $90,000, borrows $15,000 from the bank. Which of the following is a true statement upon borrowing the money?
Question 20 of 20 5.0/ 5.0 Points The type of business organization that can continue indefinitely is known as a __________.
A. sole proprietorship B. partnership C. corporation D. None of the above answers are correct.

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