please answer this questions as soon as possible, no need for full explanation, i will upvote

1. Paying off a note payable results in: A) Increase in Asset account and liability account B) Increase in Asset account and decrease in liability account C) Decrease in Asset account and decrease in liability account D) Increase in asset accounts 2. Which of the following best describes a liability? A) Liabilities are future economic benefits to which a company is entitled B) Liabilities are a form of share capital Liabilities are accounts receivables of a company D) Liabilities are economic obligations to the creditors to be paid at some future date by the company, 3. Which of the following accounts normally has a debit balance? A) Accounts payable. B) Retained earnings. C) Accounts receivable. D) Service revenue 4. Which of the four inventory methods is best suited to inventories of expensive, low-volume items? A) Specific identification B) LIFO C) FIFO D) Average cost. 5. Which of the following is true regarding Trial Balance? A) A listing of all account balances. B) Provides a means of ensuring debits equal credits. C) From this data, the balance sheet and income statement can be prepared. D) All of the above 6. Adjusting entries are best defined as: A) end-of period entries which are necessary because revenue may be earned and expenses may be incurred in periods other than the period in which related cash flows are recorded. B) Entries to update the owners' equity account for the changes in owners' equity that had been recorded in revenue and expense accounts throughout the period. C) Entries that correct the errors made during the accounting period D) Prepare the revenue and expense accounts for recording the revenue and expenses of the next accounting period