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Chapter 2—Analyzing Transactions: The Accounting Equation 22. An increase in a revenue account may also result in an increase in the accounts receivable account. a. True b. False ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: ACCREDITING STANDARDS: TOPICS: KEYWORDS: NOTES:
True 1 Easy COLL.HEIN.17.4 - LO: 2-4 AICPA FN-Measurement BUSPROG: Communication ACBSP: APC-09-Financial Statements Bloom's: Understanding 1 min.
23. Financial statements commonly prepared by businesses include an income statement, a statement of owner's equity, and a balance sheet. a. True b. False ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: ACCREDITING STANDARDS: TOPICS: KEYWORDS: NOTES:
True 1 Easy COLL.HEIN.17.3 - LO: 2-5 AICPA FN-Measurement BUSPROG: Communication ACBSP: APC-09-Financial Statements Bloom's: Remembering 1 min.
24. The statement of owner's equity shows the state of the business on a specific date. a. True b. False ANSWER: POINTS: DIFFICULTY: LEARNING OBJECTIVES: ACCREDITING STANDARDS: TOPICS: KEYWORDS: NOTES:
False 1 Easy COLL.HEIN.17.3 - LO: 2-5 AICPA FN-Measurement BUSPROG: Communication ACBSP: APC-09-Financial Statements Bloom's: Remembering 1 min.
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