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Author Question: A recursive relationship occurs between two different instances of an entity. Indicate whether the ... (Read 116 times)

PhilipSeeMore

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on: Jul 5, 2018
A recursive relationship occurs between two different instances of an entity.
  Indicate whether the statement is true or false

Question 2

Tina opens a business to do small printing jobs. Her first few transactions are shown below.
 
  For each of them, state which two of the following six possibilities occurred as a result of each transaction - an asset increased, an asset decreased, a liability increased, a liability decreased, equity increased, or equity decreased:
   a. Tina invested 25,000 of her personal cash in the business
   b. Tina purchased a high-speed copying machine on credit; the machine should last 4 years
   c. Tina paid cash to a student she hired to make deliveries for her that day.


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kmb352

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

T

Answer to Question 2

a. assets +, equity +
b. assets +, liabilities +
c. assets -, equity -


PhilipSeeMore

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Reply 2 on: Jul 5, 2018
Wow, this really help

rachel

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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