King Company experienced an accounting event that affected its financial statements as indicated below:Assets=Liab.+Stk.EquityRev.?Exp.=Net Inc.Stmt. ofCash Flows? ? ?NA + ??FA/?OAWhich of the following accounting events could have caused these effects on King's statements?
A. Issued a bond at a discount.
B. Repaid a bond issued at a discount.
C. Made a payment on an installment loan.
D. Borrowed funds through a line-of-credit.
Answer: C
You might also like to view...
. A study by Darden School of Business professor Saras D. Sarasvathy showed that 89% of experienced, serial entrepreneurs used ______ thinking.
a. predictive and casual thinking b. creative and effectual thinking c. predictive and effectual thinking d. creative and causal thinking
An acceptance can impose new conditions or change the terms of the original offer without rejecting it
Indicate whether the statement is true or false
________ helps managers maintain their enthusiasm and confidence and energize subordinates to help the organization attain its goals.
A. An external locus of control B. Introversion C. A high need for power D. Negative affectivity E. Emotional intelligence
In general, is uploading or downloading faster? Why?
What will be an ideal response?