_________________ increase and decrease long-term assets.
举一反三
- Assets are often classified into current assets, long-term investments, plant assets, and intangible assets.
- A decrease in the allowance for receivables would result in: A: An increase in liabilities and assets. B: A decrease in gross profit. C: A decrease in net profit. D: An increase in net profit.
- Johnson company pays the software company $5,000 with a check that they bought. Which the following statement is true? A: Assets are increase and liabilities are increase. B: Assets are decrease and owner’s equity is decrease. C: Assets are decrease and liabilities are decrease. D: Assets are increase and owner’s equity is increase.
- Which of the following statements is true? A: A debit records an increase in liabilities. B: A debit records a decrease in assets. C: A credit records an increase in liabilities. D: A credit records an decrease in capital.
- Plant assets are: A: Current assets. B: Used in operations. C: Natural resources. D: Long-term investments. E: Intangible.