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Questions and Answers
True or false: When goods are sold on credit, the following accounts are affected: Debtor’s control, sales, cost of sales and trading inventory.
True or false: When goods are sold on credit, the following accounts are affected: Debtor’s control, sales, cost of sales and trading inventory.
True (A)
True or false: In a mixed economy, the government is responsible for all decisions regarding the production of goods and services.
True or false: In a mixed economy, the government is responsible for all decisions regarding the production of goods and services.
False (B)
True or false: Liabilities will reduce the ownership equity.
True or false: Liabilities will reduce the ownership equity.
True (A)
