Indicate whether the business activity noted below is an event or a transaction.

Purchased equipment for $$3,000$ cash.

Question $1$ options:

$1)$

transaction

$2)$

event

Question $2(1$ point$)$

Indicate whether the business activity noted below is an event or a transaction.

Purchased supplies with $$40$ cash.

Question $2$ options:

$1)$

transaction

$2)$

event

Question $3(1$ point$)$

Indicate which financial reporting element the following account belongs in$.$

Website design

Question $3$ options:

$1)$

expenses

$2)$

equity

$3)$

liabilities

$4)$

revenues

$5)$

assets

Question $4(1$ point$)$

Indicate which financial reporting element the following account belongs in$.$

Income tax payable

Question $4$ options:

$1)$

assets

$2)$

expenses

$3)$

revenues

$4)$

liabilities

$5)$

equity

Question $5(1$ point$)$

Indicate which financial reporting element the following account belongs in$.$

Owners' capital

Question $5$ options:

$1)$

liabilities

$2)$

expenses

$3)$

equity

$4)$

revenues

$5)$

assets

Question $6(1$ point$)$

Indicate which financial reporting element the following account belongs in$.$

Wages expense

Question $6$ options:

$1)$

equity

$2)$

revenues

$3)$

liabilities

$4)$

expenses

$5)$

assets

Question $7(1$ point$)$

The transaction below affects BOTH the accounts named.

Paid cash of $$350$ to repair the office's door: Prepaid Expense, Cash.

Question $7$ options:

$1)$ True

$2)$ False

Question $8(1$ point$)$

The transaction below affects BOTH the accounts named.

Paid your credit card bill of $$2,500$: Miscellaneous Expense, Cash.

Question $8$ options:

$1)$ True

$2)$ False

Question $9(1$ point$)$

The transaction below affects BOTH the accounts named.

Purchased a business licence for $$60$ using a credit card: Licence Expense, Accounts Payable.

Question $9$ options:

$1)$ True

$2)$ False

Question $10(1$ point$)$

The transaction below affects BOTH the accounts named.

Received cash of $$3,400$ from customers for services provided: Unearned Revenue, Cash.

Question $10$ options:

$1)$ True

$2)$ False