Question: QUESTION 8 When a transaction increases a liability, what is a possible offsetting entry? Oa. An increase in an asset. Ob. An increase in

QUESTION 8 When a transaction increases a liability, what is a possible

QUESTION 8 When a transaction increases a liability, what is a possible offsetting entry? Oa. An increase in an asset. Ob. An increase in owners' equity. c. An increase in a different liability. Od. A decrease in an asset. QUESTION 9 Which account is not reported on the income statement? a. Dividends Ob. Cost of goods sold Oc. Revenue Od. Depreciation expense QUESTION 10 When a transaction increases retained earnings, what is a possible offsetting entry? Oa. A decrease in an asset account. Ob. An increase in dividends. Oc. An increase in an asset account Od. An increase in a liability account

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