1. An investment of cash into the business will:
a. decrease total assets
b. decrease total liabilities
c. increase shareholder's equity
d. have no effect on total assets
2. Purchasing a company on account will
a. increase total assets
b. increase total liabilities
c. have no effect on shareholders' equity
d. All of the above
3. Performing a service on account will
a. increase total assets
b. increase shareholder's equity
c. both a and b
d. increase total liabilities
4. Receiving cash from a customer on account will
a. have no effect on total assets
b. Increase total assets
c. decrease liabilities
d. increase shareholder's equity