Author Question: How does receiving a bill to be paid next month for services received affect the accounting ... (Read 479 times)

neverstopbelieb · **on:** Jul 6, 2018

How does receiving a bill to be paid next month for services received affect the accounting equation?
a. assets decrease; owner's equity decreases
b. assets increase; liabilities increase
c. liabilities increase; owner's equity increases
d. liabilities increase; owner's equity decreases

Question 2

The government-wide financial statements do notinclude

A. Discretely presented component units.
B. Governmental fund information.
C. Business-type activities.
D. Net position.