Podcast
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
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
True or false: Liabilities will reduce the ownership equity.
True or false: Liabilities will reduce the ownership equity.
True
