1. In addition to requiring that the accounting equation remain in balance, the double-entry system also...

1. In addition to requiring that the accounting equation remain in balance, the double-entry system also requires that:

the number of asset accounts must equal the number of liability and stockholder's equity accounts.

for any transaction, only two accounts are affected.

for any transaction, both sides of the accounting equation are affected.

the total dollar amount of debits must equal the total dollar amount of credits.

2.Which of the following would eventually cause Retained Earnings to decrease?

Receiving contributions from investors

Earning unearned revenue

Billing customers for services provided

Using up supplies

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ekkarill92 answered 1 year ago

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