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HE 10 QUIZ 2

Authored by Melvin Riva

Education

10th Grade

Used 2+ times

HE 10 QUIZ 2
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26 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Payment of Rent

Effects in Expenses Account:

INCREASING

DECREASING

NO EFFECTS

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Payment of Bank loan

Effects in Liability Account:

INCREASING

DECREASING

NO EFFECTS

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Collecting of Payment in rendered services

Effects in Income Account:

INCREASING

DECREASING

NO EFFECTS

4.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Investment through a bank loan.

Effects in Liability Account:

INCREASING

DECREASING

NO EFFECTS

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Cash Withdrawal

Effects in Asset Account:

INCREASING

DECREASING

NO EFFECTS

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Payment of Notes Payables

Effects in Liability Account:

INCREASING

DECREASING

NO EFFECTS

7.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Determine the effects of the following business transaction in the accounting accounts.

Investment land and Factory

Effects in Equity Account:

INCREASING

DECREASING

NO EFFECTS

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