1.The accounting equation may be expressed as: A. Assets = Reveues – Expenses B.

Question

1.The accounting equation may be expressed as:

A. Assets = Reveues – Expenses

B. Assets + Liabilities = Stockholders' Equity

C. Assets – Equities = Liabilities

D. Assets = Liability + Stockholders’ Equity

2.Debit Accounts Payable account will decrease the account.

True

False

3. A chart of accounts is:

A. usually listed in the order in which they appear in financial statement.

B.Usually a listing of accounts in alphabetical order

C.The same as a balance sheet

D, One of the four financial statements.

4. Dividend is distribution of retained earnings.

True

False

Explanation / Answer

Q1. Answer is D. Assets = Lliabilities + Stockhoder's equity Q2. Answer is TRUE Q3. Answer is B. Usually a listing of accounts in alphabetical order Q4. Answer is True

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