Question: 2. What are assets? MULTIPLE CHOICE A. Resources that a company owns with future benefit B. Amounts paid to owners C. Amounts owed to others

2. What are assets?

MULTIPLE CHOICE

A. Resources that a company owns with future benefit

B. Amounts paid to owners

C. Amounts owed to others and are future obligations

D. Net worth of a company

3. Which of the following increases owners equity?

MULTIPLE CHOICE

A. Dividends

B. Business losses

C. Business profits

D. Business expenses

4. To add a new account to the chart of accounts:

MULTIPLE CHOICE

A. From the Lists menu, select New Account

B. From the Company menu, select New Account

C. From the Home page, select New Account

D. Display the Chart of Accounts, select Account, New

5. What is the purpose of a non-posting account?

MULTIPLE CHOICE

A. To identify owner's equity

B. To calculate income

C. To calculate expenses

D. To track information necessary to the accounting information system

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