If Houston Company billed a client for $10,000 of consulting work completed, the accounts receivable asset increases by $10,000 and:
A. Accounts payable increases $10,000.
B. Revenue increases $10,000.
C. Revenue decreases $10,000
D. Accounts payable decreases $10,000.
E. Cash increases $10,000.
Answer: B
You might also like to view...
Information about a company's operating capability may be helpful to external users in
A) assessing the uncertainty of its future cash flows. B) evaluating the timing of cash flows in the near future. C) evaluating the efficiency with which the company uses its resources to generate revenue. D) assessing a return of investment as well as a return on investment.
The reliability of audit evidence is a measure of the quality of the underlying evidence and is influenced by risk, potential management bias associated with the evidence, and the quality of the internal control system underlying the preparation of the evidence
a. True b. False Indicate whether the statement is true or false
A bus topology is less costly to install than a ring topology
Indicate whether the statement is true or false
The Stapel Scale is a modification of which of the following?
a. constant sum scale b. paired comparison scale c. semantic differential scale d. Likert scale e. Rank order scale