14. A debit may signify a(n): A. decrease in liability accounts B. decrease in the dividends account C. increase in the common stock account D. decrease in asset accounts

15. Which of the following types of accounts have a normal credit balance? A. liabilities and expenses B. common stock and dividends C. revenues and common stock D. assets and liabilities

16. A debit balance in which of the following accounts would indicate a likely error? A. Notes Payable B. Supplies C. Accounts Receivable D. Salaries Expense

17. Which of the following entries records the payment of an account payable? A. Debit Accounts Receivable; credit Cash B. Debit Accounts Payable; credit Cash C. Debit Cash; Credit Supplies Expense D. Debit Cash; credit Accounts Payable

18. Which of the following entries records the receipt of cash from clients on account? A. Accounts Receivable, debit; Fees Earned, credit B. Cash, debit; Accounts Receivable, credit C. Accounts Receivable, debit; Cash, credit D. Accounts Payable, debit; Fees Earned, credit

19. Which of the following groups of accounts increase with a credit? A. Common stock, revenues, expenses B. Labilities, common stock, revenues C. Assets, common stock, revenues D. None of these choices are correct

20. Which of the following situations increase stockholders equity? A. Services are provided on account B. Utility bill will be paid next month C. Cash is received from customers on account D. Supplies are purchased on account