Decreases in equity that represent costs of providing products or services to customers, used to earn revenues are called:

A. Expenses.
B. Equity.
C. Dividends.
D. Liabilities.
E. Common Stock.


Answer: A

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Fill in the blank(s) with the appropriate word(s).

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What do the credit terms, 2/15, n/30 mean?

A. A two percent discount can be deducted if the invoice is paid before the fifteenth day following the date of the sale. B. A two percent discount can be deducted if the invoice is paid after the fifteenth day following the sale, but before the thirtieth day. C. A two percent discount can be deducted for a period up to thirty days following the date of sale. D. A fifteen percent discount can be deducted if the invoice is paid within two days following the date of sale.

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A seller generally has a duty to disclose any known defect that materially affects the value of the property.

Answer the following statement true (T) or false (F)

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________ allows you to communicate with avatars using text messaging

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