17. Are liability accounts increased by debits or credits?
18. Cornelius Company purchased supplies on account. What account is credited?
19. What is the purpose of a trial balance?
20. Explain the significance of the return on equity ratio. Who (what category or type of financial statement users) would normally be most interested in this ratio?
21. How does the debt to assets ratio indicate the degree of a company's debt risk? Who would normally be most interested in this ratio?
22. What is financial leverage? What financial ratio can be increased by using financial leverage?
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