8. Cash a/c has a debit balance True False 9. Capital brought in by the proprietor is an example of Increase in Asset and increase in Liability Increase in Liability and decrease in Asset Increase in...

8. Cash a/c has a debit balance

True

False

9. Capital brought in by the proprietor is an example of

10.Which of the following is correct about a company’s Balance sheet?

d). It is unnecessary if both an Income statement and cash flow statements are available.

a). It is an expansion of the basic accounting equation: Asset= Liabilities + equity

b). It displays sources and uses of cash for the period

c). It is sometimes referring to as a statement of change in financial position

Jun 11, 2022

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