Financial accounting

Financial accounting is focused on the ____ Financial statements of the company

• External

• Internal

What will usually cause an asset account to increase?

• debits

• credits

The owner invests personal cash in the business.

-The Assets will

• Increase

• Decrease

• no affect

The owner invests personal cash in the business.

-The liabilities will

• Increase

• Decrease

• no affect

The owner invests personal cash in the business.

-Owner's Equity will

• Increase

• decrease

• no Effect

What will usually cause the liability account accounts payable to increase ?

• Debits

• Credits

Managers are the ________users of accounting.

• internal

• external

The company receives cash from a bank loan.

-The assets will

• increase

• Decrease

• No effect

The company receives cash from a bank loan.

-The liabilities will

• increase

• decrease

• No effect

The company receives cash from a bank loan.

-The owners' equity will

• increase

• decrease

• no Effect