If Houston Company billed a client for $10,000 of consulting work completed, the accounts receivable asset increases by $10,000 and:
A. Revenue decreases $10,000
B. Cash increases $10,000.
C. Accounts payable decreases $10,000.
D. Revenue increases $10,000.
E. Accounts payable increases $10,000.
Answer: D
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a. Assets and stockholders' equity decrease. b. Assets and stockholders' equity increase. c. Assets decrease and liabilities increase. d. No net effect.
When given the opportunity to personally deliver a proposal, what should be stressed when meeting the audience?
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A) is reduced by approximately 50%. B) is reduced by approximately 70%. C) does not change. D) More information is needed for this problem.
Stock that was reacquired and is still held by the issuing corporation is called:
A. Redeemed stock. B. Callable stock. C. Capital stock. D. Treasury stock. E. Preferred stock.