GB 518 RANK Career Path Begins/gb518rank.com GB 518 RANK Career Path Begins/gb518rank.com | Page 36

Question 6. Question :
Of the following accounts, the
one that normally has a credit balance is:
Cash
Office Equipment
Sales Salaries Payable
Dividends
Sales Salaries Expense

Question 7.

Question :

Net Income:

Decreases equity
Represents the amount of assets owners
put into a business
Equals assets minus liabilities
Is the excess of revenues over expenses
Represents the owners' claims against
assets

Question 8. Question :
information include:

Internal users of accounting