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Adding Q30 & Q31 without answers #3021

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Jan 30, 2022
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Adding Q30 & Q31 without answers #3021

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14 changes: 14 additions & 0 deletions accounting/accounting-quiz.md
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Expand Up @@ -195,3 +195,17 @@
- [ ] senior management
- [ ] board of directors
- [ ] union of employee representatives

### Q30. A business purchased office equipment by issuing aone-year note payable. The entire amount of the note is due at the end of one year. How do you record this transaction?

- [ ] Debt asset, credit equity
- [ ] Debt liablity, credit asset.
- [ ] Debit asset, credit liability
- [ ] Debit equity, credit asset.

### Q31. Which section of a financial annual report describes the corporation's accounting methods?

- [ ] Notes to the financial statements
- [ ] An auditor's report
- [ ] Listing of the stockholders
- [ ] Management discussion and analysis