$1.$ The company receives cash from a customer for work to be performed next year.

Question options:

Assets Go Up

Assets Go Down

Liabilities Go Up

Liabilities Go Down

Equity Goes Up $($Due to revenue$)$

Equity Goes Down $($Due to an expense$)$

$2.$ The company pays a utility bill it received the prior month.

Question options:

Assets Go Up

Assets Go Down

Liabilities Go Up

Liabilities Go Down

Equity Goes Up $($Due to revenue$)$

Equity Goes Down $($Due to an expense$)$

$3.$ The company receives cash from a customer at the time service is provided.

Question options:

Assets Go Up

Assets Go Down

Liabilities Go Up

Liabilities Go Down

Equity Goes Up $($Due to revenue$)$

Equity Goes Down $($Due to an expense$)$

$4.$ The company uses printer paper as part of preparing a report for a customer.

Question options:

Assets Go Up

Assets Go Down

Liabilities Go Up

Liabilities Go Down

Equity Goes Up $($Due to revenue$)$

Equity Goes Down $($Due to an expense$)$

$5.$ The company does work the customer paid for in a prior period.

Question options:

Assets Go Up

Assets Go Down

Liabilities Go Up

Liabilities Go Down

Equity Goes Up $($Due to revenue$)$

Equity Goes Down $($Due to an expense$)$

Answer rating: 100% (QA)

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