940414
Description
Quiz by Shannon Anderson-Rush, updated more than 1 year ago
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Created by Shannon Anderson-Rush
about 10 years ago
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Question 1
Question
A computer used by a business would be an asset.
Answer
- True
- False
Question 2
Question
An account used to summarize the owner's equity is the T account.
Answer
- True
- False
Question 3
Question
A decrease in the owner's equity is a resume of the owner withdrawing money from the business or an expense.
Answer
- True
- False
Question 4
Question
Money paid for advertising is an asset account because it will increase sales.
Answer
- True
- False
Question 5
Question
Sale of goods is a source of revenue for a business.
Answer
- True
- False
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