GB 518 RANK Let's Do This /gb518rank.com GB 518 RANK Let's Do This /gb518rank.com | Page 18

Liabilities increase by $75,000 and
expenses decrease by $75,000
Assets decrease by $75,000 and expenses
decrease by $75,000
Assets increase by $75,000 and liabilities
increase by $75,000
Question 7. 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 8. Question :
accounting is:
The primary objective of financial
To serve the decision-making needs of
internal users