Mize Company provided $45,500 of services on account, and collected $38,000 from customers during the year. The company also incurred $37,000 of expenses on account, and paid $32,400 against its payables. How do these events impact the elements of the financial statements model?
A. Total liabilities would increase.
B. Total assets would increase.
C. Total equity would increase.
D. All of these answer choices are correct.
Answer: D
You might also like to view...
Couples should have many conversations about their views on family finances prior to becoming engaged or married
Indicate whether this statement is true or false.
Which statement about investment companies is FALSE?
A. An open end fund is a type of management company B. A closed end fund is a type of management company C. Closed-end fund shares trade throughout the day D. Open-end fund shares trade throughout the day
Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. Value funds are comprised of stocks with [low | high] PE ratios.
With regard to spatial nonverbal communication, 7 feet and beyond is considered a public distance and is usually for public speaking.
Answer the following statement true (T) or false (F)