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An owner invests $20 000 in her new business by depositing the cash in the business bank account. Which account is credited?


A) Accounts receivable
B) Accounts payable
C) Cash
D) Capital

E) None of the above
F) B) and C)

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A business makes a cash payment to a supplier "on credit" (for supplies which were purchased earlier) . Which account is credited?


A) Supplies
B) Accounts payable
C) Service revenue
D) Cash

E) None of the above
F) A) and B)

Correct Answer

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On a trial balance, which accounts are listed last?


A) Expenses
B) Liabilities
C) Revenues
D) Assets

E) A) and D)
F) None of the above

Correct Answer

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