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 172 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?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

The inheritance of snail coiling direction as an example of a maternal effect gene. The inheritance of snail coiling direction as an example of a maternal effect gene.
The Greenhouse Effect The Greenhouse Effect
When using forearm pressure on the top of the shoulder, push with your back foot to increase your ... When using forearm pressure on the top of the shoulder, push with your back foot to increase your ...
Effect of Atmospheric Stability Effect of Atmospheric Stability
The Serial-Position Effect The Serial-Position Effect
Chloride and bicarbonate exchange in the renal tubules and effect of aldosterone on excretion of H+ Chloride and bicarbonate exchange in the renal tubules and effect of aldosterone on excretion of H+
Video: Type of Transport - Active and Passive Processes

For a complete list of videos, visit our video library