141.In accordance with the debit and credit rules, which of the following is true?
a.Debits increase assets.
b.Credits increase assets.
c.Debits increase both assets and common stock.
d.Credits increase both assets and liabilities.
142.All of the following accounts are increased with a debit
except
a.Unearned Revenues
b.Land
c.Accounts Receivable
d.Cash
143.Which of the following stockholders' equity accounts follows the same debit and credit rules as liabilities?
a.expense accounts only
b.dividends accounts only
c.revenue accounts only
d.expense and dividends accounts
144.The payment for the monthly rent will require which of the following entries?
a.debit Cash and debit Rent Expense
b.credit Cash and credit Rent Expense
c.debit Rent Expense and credit Cash
d.credit Rent Expense and debit Cash
145.Expenses follow the same debit and credit rules as
a.revenues
b.the asset account
c.the common stock account
d.liabilities
146.Net income will result when
a.revenues (credits) > expenses (debits)
b.revenues (debits) > expenses (credits)
c.expenses (credits) = revenues (debits)
d.revenues (credits) = expenses (debits)
147.Which of the following will increase stockholders' equity?
a.expenses > revenues
b.the company pays dividends
c.revenues > expenses
d.cash is received from customers on account
148.Which of the following situations increase stockholders' equity?
a.Supplies are purchased on account.
b.Services are provided on account.
c.Cash is received from customers on account.
d.Utility bill will be paid next month.
149.Which of the following groups of accounts are increased with a debit?
a.assets, liabilities, stockholders’ equity
b.assets, dividends, expenses
c.assets, revenues, expenses
d.assets, liabilities, revenues
150.Which of the following groups of accounts increase with a credit?
a.common stock, revenues, expenses
b.assets, common stock, revenues
c.liabilities, common stock, revenues
d.none of these