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ACCT 212 Week 2 Quiz

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ACCT 212 Week 2 Quiz. 1. (TCO 2) The debt created by a business when it makes a purchase on account is a(n) (Points : 3) Question 2. 2. (TCO 2) Which of the following transactions will increase Stock ... holders' Equity? (Points : 3) Question 3. 3. (TCO 2) A company performs services for a client on account. When the company receives the cash from the customer 1 month later (Points : 3) Question 4. 4. (TCO 2) The left side of a T-account is always the (Points : 3) Question 5. 5. (TCO 2) An account is increased by a debit and has a debit balance. This account is (Points : 3) Question 6. 6. (TCO 2) The process of copying the information from the journal to the ledger is called (Points :3 Question 7. 7. (TCO 3) A doctor performed surgery in March and did not receive cash from the patient until July. Under accrual accounting the doctor recognizes revenue (Points : 3) [Show More]

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