4. The company receives money from customers. What are the elements involved in this transaction? Use the T-account rules to fin
d the right answer: *
- Cash, Asset, increases, Debited; and - Account receivable, Asset, increases, Debited
- Cash, Asset, increases, Debited; and - Account receivable, Asset, decreases, Credited
- Cash, Asset, increases, Debited; and - Account receivable, Asset, increases, Credited
No element
6. The company repays short time credit. What are the elements involved in this transaction? Use the T-account rules to find the right answer: *
- Cash, Asset, increases, Debited; and - Bank loan, Liability, increases, Credited
- Cash, Asset, decreases, Credited; and - Bank loan, Liability, decreases, Debited
- Cash, Asset, decreases, Debited; and - Bank loan, Liability, increases, Debited
- Cash, Asset, increases, Debited; and - Bank loan, Liability, increases, Debited
8. The company decides to allocate the profit to dividends. What are the elements involved in this transaction? Use the T-account rules to find the right answer: *
Profit, OE, decrease, Debited; and Dividends payable, Liability, increase, Credited
Cash, Asset, increases, Credited; and Profit, OE, increase, Credit
Profit, OE, decrease, Debited; and Dividends payable, Liability, decrease, Debited
Profit, OE, decrease, Debited; and Dividends payable, Liability, decrease, credited
10. The two main methods of bookkeeping and accounting are *
the cash method and the prudence method
the accrual method and the prudence method
the cash method and the accrual method
the cash method and the credit method
9. It pays dividends. What are the elements involved in this transaction? Use the T-account rules to find the right answer: *
9 puncte
Cash, Asset, decreases, Credited; and Dividends payable, OE, increases, Credited
Cash, Asset, decreases, Credited; and Dividends payable, Liability, decreases, Debited
Cash, Asset, increases, Credited; and Dividends payable, Liability, increases, Debited
Cash, Asset, increases, Credited; and Profit, OE, increases, Credited
2. The company performs services for 100 lei cash. What are the elements involved in this transaction? Use the T-account rules to find the right answer:
9 puncte
Cash, Asset, decreases, Debited; and Revenue, Owners' Equity, increases, Credited
Cash, Asset, increases, Credited; and Revenue, Owners' Equity, decreases, Credited
Cash, Asset, increases, Credited; and Revenue, Owners' Equity, increases, Debited
Cash, Asset, increases, Debited; and Revenue, Owners' Equity, increases, Credited
3. The company hired two employees. What are the elements involved in this transaction? Use the T-account rules to find the right answer: *
9 puncte
- Account payable, Liability, increases, Debited; and - Cas, Aset, increases, Credited
- Wadges expenses, Asset, increases, Credited; and - Cash, Asset, decreases, Credited
- Wadges expenses, Asset, increases, Credited; and - Account payable, Liability, increases, Credited
- No element
7. The company pays the insurance for next three days. What are the elements involved in this transaction? Use the T-account rules to find the right answer: *
9 puncte
- Cash, Asset, decrease, Credited; and - Prepaid insurance, Asset, increase, Credited
- Cash, Asset, decrease, Debited; and - Prepaid insurance, Asset, increase, Credited
- Cash, Asset, decrease, Credited; and - Prepaid insurance, Asset, increase, Debited
- Cash, Asset, increase, Credited; and - Prepaid insurance, Asset, decrease, Credited
5. The company pays salary. What are the elements involved in this transaction? Use the T-account rules to find the right answer: *
9 puncte
- Salary payable, Liability, decrease, Debited; and - Cash, Asset, decreases, Credited
- Wadges expenses, Asset, increases, Debited; and - Salary payable, Liability, increases, Debited
- Wadges expenses, Asset, increases, Debited; and - Salary payable, Liability, decreases, Debited
- Salary payable, Liability, decrease, Debited; and - Cash, Asset, decreases, Debited
2. The company purchases inventory on credit. What are the elements involved in this transaction? Use the T-account rules to find the right answer:
9 puncte
- Account receivable, Liability, increases, Debited; and - Inventory, asset, increases, Debited
- Account payable, Liability, increases, Credited; and - Inventory, asset, increases, Debited
- Account payable, Liability, increases, Debited; and - Inventory, asset, increases, Debited
- Account receivable, Asset, increases, Debited; and - Cash, Asset, increases, Credited
