This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If the effect of the debit portion of an adjusting entry is to increase the balance of an expense ... (Read 170 times)

ss2343

  • Hero Member
  • *****
  • Posts: 548
on: Jul 5, 2018
If the effect of the debit portion of an adjusting entry is to increase the balance of an expense account, which of the following describes the effect of the credit portion of the entry?
 a. decreases the balance of an owner's equity account
  b. increases the balance of a liability account
  c. increases the balance of an asset account
  d. decreases the balance of an expense account

Question 2

In governmental accounting, a fund is best defined as:
 
  a. a sum of cash set aside to attain certain objectives
  b. a fiscal entity that has both financial and capital resources
  c. a fiscal entity that has cash resources only
  d. a fiscal and accounting entity with a self-balancing set of accounts


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

d


ss2343

  • Hero Member
  • *****
  • Posts: 548
Reply #2 on: Jul 5, 2018
Correct answers!


fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Reply #3 on: Jul 5, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Tracking time of marker entry generates a chromosome map Tracking time of marker entry generates a chromosome map
Changes in Synaptic Density From Birth to Age 2 Synaptic connections increase throughout the first Changes in Synaptic Density From Birth to Age 2 Synaptic connections increase throughout the first
After adjusting the valves that are closed, rotate the engine one full rotation until the engine ... After adjusting the valves that are closed, rotate the engine one full rotation until the engine ...
(a) The connection required to test a Halleffect sensor. (b) A typical waveform from a Hall-effect ... (a) The connection required to test a Halleffect sensor. (b) A typical waveform from a Hall-effect ...
Increase in Surface Area by Mechanical Weathering Increase in Surface Area by Mechanical Weathering
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
Video: Introduction to Epilepsy

For a complete list of videos, visit our video library