A debit is used to record which of the following?
a. An increase in the common stock account.
b. A decrease in an expense account.
c. A decrease in an asset account.
d. An increase in a revenue account.
e. An increase in the dividends account.
A debit is used to record which of the following?
a. An increase in the common stock account.
b. A decrease in an expense account.
c. A decrease in an asset account.
d. An increase in a revenue account.
e. An increase in the dividends account.
Related questions
Managerial accounting information is restricted by which of the following authorities or principles?
| a. | Value Added Principle | |
| b. | Generally Accepted Accounting Principles | |
| c. | Securities and Exchange Commission | |
| d. | Financial Accounting Standards Board |
Which of the following costs is not considered to be an inventory (product) cost?
| a. | Raw material | |
| b. | Production wages | |
| c. | Depreciation of delivery vehicles | |
| d. | Factory utilities |
Which of the following is a characteristic of managerial accounting information?
| a. | It is historically based. | |
| b. | It is regulated by the SEC. | |
| c. | It is directed to external users. | |
| d. | It involves continuous reporting. |
Carson Manufacturing Company recognized accrued compensation for sales staff. Which of the following choices accurately reflects how this event would affect the company's financial statements?
| a. | decrease one asset account and decrease an equity account. | |
| b. | increase one asset account and decrease another asset account. | |
| c. | increase one liability account and increase an asset account. | |
| d. | increase one liability account and decrease an equity account. |
