Acc210 final Section 1 - Protected ViewSaved to this PC- Seordi Dylan Jones Layout References Mailings Review View Help ut can contain vire. Unless you need to edit it's safe to stay in Protected View Enable Editing 17. Which of the following statements is false? A) Reventies increase stockholders' equity B) Revenues have normal credit balances C) Revenues are a positive factor in the computation of net income D) Revenues are increased by debits. 18. Adjusting entries are A) not necessary if the accounting system is operating properly B) usually required before financial statements are prepared, C) made whenever management desires to change an account balance D) made to balance sheet accounts only 19. A law firm received $3,000 cash for legal services to be rendered in the future. The full amount was credited to the liability account Uneared Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjusting entry in made, this would cause A) expenses to be overstated. B) net income to be overstated C) liabilities to be understated D) revenues to be understated 20. The balance in the supplies account on June I was $5.200, supplies purchased during June were $3.500, and the supplies on hand at June 30 were $3,000. The amount to be used for the appropriate adjusting entry is A) S3.500 B) 55,700 CS6 500 Docus O RE