Which of the following statements best describes the effects of recognizing revenue earned by a business entity?
a. Assets increase only when cash sales are made.
b. Stockholders' equity increases only when credit sales are made.
c. Assets and stockholders' equity increase when either cash or credit sales are made.
d. Assets increase, but stockholders' equity decreases, when either cash or credit sales are made.
c
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The usage of _____ in web technologies ensures that data exchanged between the SCM systems of two organizations are interpreted correctly.
Fill in the blank(s) with the appropriate word(s).
Laws that prohibit the formation of monopolies or alliances that would damage a competitive marketplace benefit consumers through
A. fair debt collection practices. B. fewer competitors. C. higher prices. D. increased choices. E. protection from false advertising.
Off-price retailing refers to the
A. differences between the final selling price and the retailer's cost. B. sale of brand name merchandise at lower than regular prices. C. reduction in retail price usually expressed as the gross margin. D. sales of merchandise at maintained markups. E. amount added by the manufacturer to achieve the desired suggested retail price.
The statute of limitations for breach of warranty under the UCC is
A. one year. B. two years. C. three years. D. four years.