Welcome to Analyzing Financial Position using the Accounting Equation. Here are the questions you can practice with multiple choice answers. Answer all the questions and see your scores.
1.
What happens to the equity if expenses decrease?
2.
If a company pays dividends to its shareholders, how does this affect the accounting equation?
3.
If liabilities decrease, what will happen to the accounting equation?
4.
If a company purchases equipment on credit, what happens to the accounting equation?
5.
If a company pays off a loan, what happens to the accounting equation?
6.
What effect does revenue recognition have on the accounting equation?
7.
Which of the following represents the basic accounting equation?
8.
What happens to equity if there is a net loss for the period?
9.
If a company's assets increase, what will happen to the equity?
10.
If a company issues stock for cash, how does this transaction affect the accounting equation?
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