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ACC201 Exam final Graded A
Exam (elaborations) • 11
pages
• 2020
ACC201 Exam

Which of the following is not an asset?
a.	investments
b.	cash
c.	inventory
d.	owner’s equity

ANSWER:	D
 
The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner’s equity should equal
a. $212,000
b. $44,000
c. $128,000
d. $84,000
ANSWER:	B
	If total liabilities decreased by $46,000 during a period of time and owner's equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in ...
ACC201 Exam final Graded A
Last document update:
ago
ACC201 Exam

Which of the following is not an asset?
a.	investments
b.	cash
c.	inventory
d.	owner’s equity

ANSWER:	D
 
The assets and liabilities of the company are $128,000 and $84,000, respectively. Owner’s equity should equal
a. $212,000
b. $44,000
c. $128,000
d. $84,000
ANSWER:	B
	If total liabilities decreased by $46,000 during a period of time and owner's equity increased by $60,000 during the same period, the amount and direction (increase or decrease) of the period's change in ...
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