Question: please answer ALL 12 questions (do not just do half) thank u for the help Question 1 (4 points) When a company uses up inventory



Question 1 (4 points) When a company uses up inventory in a sale to a customer, what happens to the Profit account? It increases It decreases It does not change Question 2 (4 points) If a company pays for maintenance is cash, what happens to the cash account? It increases It decreases It does not change Question 3 (4 points) When a company makes a sale to a customer on credit, what happens to the accounts payable account? It increases It decreases It stays the same Which of this is not an advantage of accural-based accounting? it is used by large, publically-traded corporations it reflects the value a firm creates when it is created is reports revenue when an invoice is issued it is simple and easy Question 5 (4 points) When a company accepts cash from a customer for a gift card, which account is use to balance the increase in cash? Accounts payabl Account receivable Deferred revenue Question 6 (4 points) When a customer makes a cash payment for part of what they own, what happens to accounts receiveable? It increases It decreases It does not change When a company prepays an expense with cash, what happens to the cash account? It increases It decreases It does not change Question 8 (4 points) When a company estimates an expense at the end of the period, which financial statements change? Balance sheet only Income statement only Balance sheet and income statement Question 9 (2 points) Revenue are activities that generate assets but do not decrease liabilities. True False Question 10 (2 points) Liabilities, equity, and revenue are all sources of funds. True False Liabilities, equity, and revenue are all sources of funds. True False Question 11 (2 points) Operating profit measures how much value the business generates directly form its income/revenue activities. True False Question 12 (2 points) Liabilities onligate a company's assets to its creditors. True False
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