MC Questions point) Circle the best answer 1. The right side of a ccount is in A) Debit. B) Increase C) Credit. D) Decrease E) Account balance 2. the entity will remain in operation for the foreseeable future. This is the A) Matching principle. B) Revenue recognition principle. C) Time period principle. D) Accrual reporting principle. E) Going-concern assumption. 3. At the end of a recent year, Kuwait Cleaning Services (KCS), had total assets of KD 3630 and equity of KD 2.280. How much were KCS's liabilities? A) KD 5,910 B) KD 3,630 TA - 2- 3,630 - L. 3,280 3,630-2,200 C) KD 1,350 D) KD 2,280 E) KD 4,980 KD 180. How 4. Assume that KCS performed cleaning services for a department store on account would this transaction affect KCS's accounting equation? +E A) Increase both assets and liabilities by KD 180 B) Increase both assets and equity by KD 180 C) Increase both liabilities and equity by KD 180 D) Decrease liabilities by KD 180 and increase equity by KD 180