If a firm purchases $1,000 of inventory on credit, this should have the following change on the balance sheet:
A) a $1,000 decrease in inventory and a $1,000 increase in retained earnings.
B) a $1,000 increase in inventory and a $1,000 decrease in cash.
C) a $1,000 increase in inventory and a $1,000 increase in accounts payable.
D) a $1,000 increase in inventory and a $1,000 increase in equity.
C
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________ distribution typically allows manufacturers to develop good working relationships with intermediaries and expect a better-than-average selling effort
It also gives producers good market coverage with more control and less cost than intensive distribution. A) Vertical B) Selective C) Horizontal D) Comprehensive E) Inclusive
Which of the following characterizes emerging economies?
A) Industrialization typically creates a new rich class and a growing middle class, both demanding new types of imported goods. B) They trade goods among themselves and also export them to other types of economies for raw materials and semifinished goods. C) Most African countries fall into this category. D) They consume most of their output and barter the rest for simple goods and services. E) These countries are the best markets for large equipment, tools and supplies, and trucks.
__________ refers to the predictable decline in the average cost of producing each unit of output as a production facility gets larger and output increases.
Fill in the blank(s) with the appropriate word(s).
Express voluntary assumption of the risk is a defense to an action based upon strict liability
a. True b. False Indicate whether the statement is true or false