Dividends expense is recorded as a debit and cash is

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Dividends Expense is recorded as a debit and Cash is recorded as a creditDividends is recorded as a debit and Cash is recorded as a creditorrect Answerorrect Answer
Dividends is recorded as a debit and Accounts payable is recorded as acreditou Answeredou AnsweredCash is recorded as a debit and Dividend revenue is recorded as a credit3 / 3 ptsQuestion 46An adjusted trial balance isCorrect!Correct!
3/2/2021Unit 8 Exam Two: Office Accounting - ACC100_5042 / 2 ptsQuestion 47Which of the following is not a liability?Correct!Correct!
22/32Bank reconciliationBank statement2 / 2 ptsQuestion 49The Accumulated Depreciation account appears on the
2 / 2 ptsQuestion 48A small amount of cash kept on hand to pay for small infrequent expensesis referred to asCorrect!Correct!
3/2/2021Unit 8 Exam Two: Office Accounting - ACC100_504Income StatementStatement of Changes in Financial PositionStatement of EquityBalance Sheet and Income StatementCorrect!Correct!
23/32
2 / 2 ptsQuestion 50The policies and procedures implemented by management to protectassets are referred to asCorrect!Correct!
Generally accepted accounting policiesCompanyspecific accounting policies2 / 2 ptsQuestion 51Cameron Inc. paid $4,500 for one year insurance effective July 1. Thegeneral ledger account effects are:Correct!Correct!
3/2/2021Unit 8 Exam Two: Office Accounting - ACC100_504Insurance Payable is recorded as a debit and Cash is recorded as a creditPrepaid Insurance is recorded as a credit and Cash is recorded as a debit2 / 2 ptsQuestion 52Which of the following doesnotdescribe a partnership?Correct!Correct!
24/32Common StockRetained Earnings
The owners are taxed separately on their own personal tax returnsA partnership cannot be owned by just one person.2 / 2 ptsQuestion 53Which of the following isnota stockholders’ equity account?InvestmentsCorrect!Correct!
3/2/2021Unit 8 Exam Two: Office Accounting - ACC100_50425/32Dividends2 / 2 ptsQuestion 54When an employee reaches a $200,000 income level, they are required topay a supplementary percentage to their _______________________ taxdeduction.

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Term
Summer
Professor
Renea Riesen

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