The purchase of office equipment on credit has what effect on the accounting equation?
a. Assets increase and liabilities increase
b. Liabilities increase and stockholders' equity decreases.
c. Assets decrease and stockholders' equity decreases
d. Assets decrease and liabilities decrease.
a
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Achieving profitability will automatically assure sufficient amounts of cash
a. True b. False Indicate whether the statement is true or false
Every company's product line covers a certain part of the total possible range of products and consumer levels
Indicate whether the statement is true or false
When all the elements of a strategic plan are integrated, it should produce a(n) ______.
a. culture of efficiency in the organization b. common “cause” for employees c. aspirational vision for what the company will become d. “ideal” version of the company that does not yet exist
Which of the following is/are true?
a. After cost of sales, the income statement typically shows deductions for other expenses associated with operations (other operating expenses). b. Many firms present a subtotal called operating income or operating profit, the difference between revenues and expenses associated with core operating activities. c. two common types of operating expenses are selling, general, and administrative expenses (SG&A) and research and development expenses (R&D). d. all of the above e. none of the above