10) Credits a. b. c. d. Decrease both assets and liabilities Decrease assets and increase liabilities Increase both assets and liabilities Increase assets ad decrease liabilities 11) The normal balance of any account is the Left side Right side a. b. c. d. Side which increase that account Side which decreases that account 12) Which of the following represents the expanded basic accounting equation? a. Assets Liabilities + Owner's Capital+Owner's Drawings - Revenues -Expenses b. Assets +Owner's Drawings + Expenses Liabilities+Owners Capital+ Revenues c. Assets-Liabilities-Owner's Drawings Owner's Capital + Revenues-expenses d. Assets revenues+ expenses-Liabilities 13) Which of the following correctly identifies normal balance of account a. Assets Debits Credit Credit Debit Credit Debit Credit Credit Credit Credit credit Debit Debit Credit Debit Debit Credit Credit Credit Debit Liabilities Owner's equity Revenues Expenses b. Assets Liabilities Owner's Equity Revenues Expenses c. Assets Liabilities Owner's Equity Revenues Expenses d. Assets Liabilities Owner's equity Revenues Expenses 14) Which account below is not a subdivision of owner's equity? a. Drawings b. Revenues c. Expenses d. Liabilities