Question

Question 9 (1 point)

When an owner invests cash in business, the equity balance will

a.increase

b.decrease

c.no impact on equity

d.none of these options

Question 10 (1 point)

Cash withdrawn from business by owner would

a.increase owner's equity

b.decrease owner's equity

c.have no impact on equity

d.not be recorded as it is owner's personal transaction

Question 11 (1 point)

If Assets are $ 21,000 and Liabilities are $ 9,000 equity will be? (use accounting equation)

a.$ 9,000

b.$ 12,000

c.$ 21,000

d.$ 30,000

Question 12 (1 point)

When the business receives cash, cash balances with business increases.

True

False

Answer 1

Question 9 (1 point)

When an owner invests cash in business, the equity balance will

By owner invest Equity balance is increase

So answer is a) Increase

Question 10 (1 point)

Cash withdrawn from business by owner would

By Cash withdrawn Decrease equity balance

So answer is b) .decrease owner's equity

Qu 11) Equity = assets -Liabilities = 21000-9000 = 12000

So answer is b) $12000

Q12 When business receives cash, Cash increase and Equity Increase

So above statement is true