11 options: True False Question 12 (1 point) When a business transaction is analyzed, Question 12 options: the accounting equation may no longer be in balance. at least two of the individual items on the balance sheet must change. both sides of the balance sheet must change. only two of the balance sheet items must change. Question 13 (1 point) A transaction does not always affect both sides of the balance sheet. Question 13 options: True False Question 14 (1 point) Which of the following transactions would result in an increase in owner's equity? Question 14 options: Did repair work for a client and gave 30 days for payment. Returned equipment bought on credit. Received payment of an account receivable. Bought supplies on credit. Question 15 (1 point) A balance sheet is always correct if it is in balance. (A = L + OE) Question 15 options: True False Question 16 (1 point) The payment of an account payable Question 16 options: decreases owner's equity. increases owner's equity. increases total liabilities. decreases total assets. Question 17 (1 point) A business transaction causes a financial position of a business to change. Question 17 options: True False Question 18 (1 point) After a business transaction has taken place, the fundamental accounting equation must still be in balance. Question 18 options: True False Question 19 (1 point) The objectivity principle helps accountants because Question 19 options: it helps a business meet sustainability goals. it is used to check on the background of new employees. it provides a means of assigning values to the assets of the business. it can be used as a method to calculating profits. Question 20 (1 point) The owner bought a new truck for personal use. This event qualifies as a business transaction. Question 20 options: True False