Vogel Company purchased $8,000 of equipment by making a $500 down payment and issuing a note for the remainder. As a result of this event, assets increased by $8,000.
Answer the following statement true (T) or false (F)
False
Assets (equipment) increase by $8,000 and assets (cash) decreases by $500, for a net increase of $7,500. Liabilities (notes payable) increase by $7,500.
You might also like to view...
Variable costs are costs that vary in total in direct proportion to changes in the activity level
Indicate whether the statement is true or false
Process analyses are identical to instructions
Indicate whether this statement is true or false.
Firms do not usually get rewarded by diversifying investments in different lines of business because ________
A) the capital markets are efficient and they quickly respond to change in economic conditions B) cash flows from such projects tend to respond less to changing economic conditions C) investors themselves can diversify by holding securities in a variety of firms; they do not need the firm to do it for them D) it is not possible for a firm to diversify its risk as the inflation premium is different for different projects
_____ sampling is a probability sampling procedure in which every sampling unit has a known and equal chance of being selected.
A. Quota B. Judgment C. Simple random D. Convenience E. Cluster