GB 518 RANK Career Path Begins/gb518rank.com GB 518 RANK Career Path Begins/gb518rank.com | Page 37

Shareholders
Customers
Creditors
Government regulators
Line Supervisor

Question 9. Question :
A company has twice as much
owner's equity as it does liabilities. If total liabilities are
$50,000, what amounts of assets are owned by the company?
$50,000
$100,000
$150,000
$200,000

Question 10. Question :

A credit is used to record:

An increase in an expense account
An increase in an asset account