2. What are assets? MULTIPLE CHOICE A. Resources that a company owns with future
ID: 2545440 • Letter: 2
Question
2. What are assets?
MULTIPLE CHOICE
A. Resources that a company owns with future benefit
B. Amounts paid to owners
C. Amounts owed to others and are future obligations
D. Net worth of a company
3. Which of the following increases owner’s equity?
MULTIPLE CHOICE
A. Dividends
B. Business losses
C. Business profits
D. Business expenses
4. To add a new account to the chart of accounts:
MULTIPLE CHOICE
A. From the Lists menu, select New Account
B. From the Company menu, select New Account
C. From the Home page, select New Account
D. Display the Chart of Accounts, select Account, New
5. What is the purpose of a non-posting account?
MULTIPLE CHOICE
A. To identify owner's equity
B. To calculate income
C. To calculate expenses
D. To track information necessary to the accounting information system
2. What are assets?
MULTIPLE CHOICE
A. Resources that a company owns with future benefit
B. Amounts paid to owners
C. Amounts owed to others and are future obligations
D. Net worth of a company
3. Which of the following increases owner’s equity?
MULTIPLE CHOICE
A. Dividends
B. Business losses
C. Business profits
D. Business expenses
4. To add a new account to the chart of accounts:
MULTIPLE CHOICE
A. From the Lists menu, select New Account
B. From the Company menu, select New Account
C. From the Home page, select New Account
D. Display the Chart of Accounts, select Account, New
5. What is the purpose of a non-posting account?
MULTIPLE CHOICE
A. To identify owner's equity
B. To calculate income
C. To calculate expenses
D. To track information necessary to the accounting information system
Explanation / Answer
2 Assets are Resources that a company owns with future benefit 3 Business profits increases owner’s equity 4 Display the Chart of Accounts, select Account, New 5 To track information necessary to the accounting information system
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.