Question 16 of 20 00 50 points if total liabilities

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Question 16 of 20 0.0/ 5.0 Points If total liabilities increased by $6,000 and the assets increased by $8,000 during the accounting
period, what is the change in the owner's equity amount?
Question 17 of 20 5.0/ 5.0 Points Which of the following transactions would cause one asset to increase and another asset to decrease?
B. The business paid a creditor. C. The business incurred an expense on credit. D. The business bought supplies for cash. Question 18 of 20 0.0/ 5.0 Points Bob purchased a new computer for the company on account. The transaction will __________.
D. increase Computer; increase Accounts Payable Question 19 of 20 5.0/ 5.0 Points If total liabilities are $1,000 and total assets are $8,000, owner's equity must be __________. A. $7,000 B. $3,000 C. $10,000 D. $13,000
Question 20 of 20 0.0/ 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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