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84) A credit is used to record an increase in all of the following accounts except: A) Accounts Payable B) Service Revenue C) Unearned Revenue D) Wages Expense E) Owner's Capital Answer: D Difficulty: 2 Medium Topic: Debits and Credits Learning Objective: 02-C4 Define debits and credits and explain double-entry accounting. Bloom's: Remember AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Decision Making 85) A debit is used to record an increase in all of the following accounts except: A) Supplies B) Cash C) Accounts Payable D) Owner's Withdrawals E) Prepaid Insurance Answer: C Difficulty: 2 Medium Topic: Debits and Credits Learning Objective: 02-C4 Define debits and credits and explain double-entry accounting. Bloom's: Remember AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Decision Making 86) Identify the account below that is classified as a liability in a company's chart of accounts: A) Cash B) Unearned Revenue C) Salaries Expense D) Accounts Receivable E) Supplies Answer: B Difficulty: 2 Medium Topic: Chart of Accounts Learning Objective: 02-C3 Describe a ledger and a chart of accounts. Bloom's: Remember AACSB/Accessibility: Analytical Thinking / Keyboard Navigation AICPA: BB Industry; FN Decision Making

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Test Bank for Fundamental Accounting Principles 24th Edition Wild  

Fundamental Accounting Principles 24th Edition Wild Test Bank 2019 (9781259916960) (1259916960). Instant test bank download. Download from h...

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