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Author Question: Dividends are ________. A) the same as expenses B) a reduction in retained earnings C) owners' ... (Read 69 times)

ec501234

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on: Jul 5, 2018
Dividends are ________.
 
  A) the same as expenses
  B) a reduction in retained earnings
  C) owners' contributions to the firm
  D) another term for each partner's share of partnership income

Question 2

When the perpetual inventory system is used, the inventory sold is debited to
 a. Supplies Expense
  b. Cost of Merchandise Sold
  c. Merchandise Inventory
  d. Sales


heyhey123

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Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

b


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