PLEASE ANSWER ALL 10

If an Asset increases, you the account. debit credit Question 2 (4 points) If an Asset decreases, you the account. debit credit Question 3 (4 points) What are retained earnings? Accumulated profits. The capital that company sets aside (retains) for future major projects. The incremental accumulated obligation to the owners. A company's excess cash. Question 4 (4 points) An income statement is a way to quickly determine a compnay's debt to equity ratio to quickly understand a company's liquidity to quickly understand how efficient a company's operations are to quickly review how much assets have increased The timing of payments (if installment any) and repayment is set in the contract. True False Question 6 (4 points) Dividends are paid to shareholders based upon a contract. True False Question 7 (4 points) If a business is liquidated, the owners get paid first, then the lenders get paid. True False Question 8 (4 points) Revenues is another word for receipts. True False Total revenue is the operating revenue less non-operating revenues. True False Question 10 (4 points) Retained earnings are the incremental accumulated obligation to the owners. True False