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Bookkeeping and Accounting - Udemy questions n answers
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Bookkeeping and Accounting - Udemy questions n answers
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Bookkeeping and Accounting - UdemyAssets - correct answer ✔✔Liabilities + Equity
Assets - correct answer ✔✔Valuable items owned by the Company.
Assets - correct answer ✔✔Cash, accounts receivable, inventory, furniture & fixtures, building, land,
equipment, etc.
Liabilities - correct answer ✔✔Debts of the Company.
Liabilities - correct answer ✔✔Accounts Payable (bills), loan balances, mortgage payable, etc.
Liabilities - correct answer ✔✔XXX + Equity = Assets
Equity - correct answer ✔✔Assets - Liabilities
Equity - correct answer ✔✔What is left after all liabilities are subtracted from assets.
Debits increase... - correct answer ✔✔assets and expenses.
Debits decrease... - correct answer ✔✔liabilities, equity and income.
Credit increase... - correct answer ✔✔liabilities, equity and income.
Credits decrease... - correct answer ✔✔assets and expenses.
1 - correct answer ✔✔Collecting and analyzing data from transactions and events.
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