A business renders services to a client and issues a sales invoice. The amount will be collected from the customer at a later time. Which of the following is true at the time the invoice is issued?
A) Equity will decrease.
B) Total liabilities will increase.
C) Total assets will decrease.
D) Net income will increase.
D
You might also like to view...
Which step is right after question development in the Questionnaire Development Process?
A) Determine research objectives B) Decide on data collection method C) Question evaluation D) Pretest E) Revise as needed
Describe the doctrine of piercing the corporate veil
What will be an ideal response?
In the ____, managers seek information from all their contacts that may affect their job performance and goal accomplishment.
a. Functional roles b. Decisional roles c. Required roles d. Informational roles
In earlier times, some thinkers analogized the discovery of ethical principles with the derivation of mathematical proofs
Indicate whether the statement is true or false