Squid Roe, Inc. paid 1,000 cash for janitorial services. The ...

[RRMR]

Squid Roe, Inc. paid 1,000 cash for janitorial services. The effect of this transaction on the accounting equation is:
 
  A) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   Increase No effect Increase No effect
 
  B) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   Decrease No effect No effect Decrease
 
  C) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   No effect Decrease No effect Increase
 
  D) Total shareholders' equity
   Total assets Total liabilities Contributed capital Retained earnings
   Decrease No effect Decrease No effect

Question 2

Achieving which control goal requires that all valid objects or events are captured and entered into a system's database once and only once?
 a. ensure input validity
  b. ensure update accuracy
  c. ensure input completeness
  d. ensure update completeness

[Ashley I]

Answer to Question 1

B

Answer to Question 2

C