Yi Company provided services to a customer for $5,500 cash. Based on this information alone, which of the following statements is true?
A. Total assets increased and net income increased.
B. Liabilities decreased and net income increased.
C. Total assets were unchanged.
D. Total assets increased and total equity decreased.
Answer: A
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A. counteroffer B. disaffirmance C. acceptance D. revocation
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Indicate whether the statement is true or false