Buying land
Question 17. Question :
A debit is:
An increase in an account
The right-hand side of a T-account
A decrease in an account
The left-hand side of a T-account
An increase to a liability account
Question 18. Question :
Risk is:
Net income divided by average total assets
The reward for investment
The uncertainty about the expected return
that will be earned from an investment
Unrelated to expected return
Question 19. Question :
Which of the following
statements best describes the relationship of U.S. GAAP and
IFRS?