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Author Question: A purchase of an asset on account a. increases cash. b. decreases owner's equity. c. increases ... (Read 107 times)

jace

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A purchase of an asset on account
 a. increases cash.
   b. decreases owner's equity.
   c. increases assets.
   d. decreases expenses.

Question 2

Which transactions of a federal agency require both budgetary and proprietary entries?
 
  a. Receipt of budgetary authority from the Congress, i.e., receipt of appropriation.
  b. Consumption of materials and supplies.
  c. Depreciation of capital assets
  d. Signing a contract to buy services



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janeli1

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Answer to Question 1

c

Answer to Question 2

A




janeli1

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