Which of the following statements best describes the effects of recognizing revenue earned by a business entity?
a. Assets increase only when cash sales are made.
b. Stockholders' equity increases only when credit sales are made.
c. Assets and stockholders' equity increase when either cash or credit sales are made.
d. Assets increase, but stockholders' equity decreases, when either cash or credit sales are made.
c
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According to ______, people will not have long-term behavior change unless they are both motivated and able to interpret a message.
A. elaboration likelihood model B. theory of planned behavior C. inoculation theory D. narrative paradigm
The first company to find a global market for any product is always at a disadvantage over competitors
Indicate whether the statement is true or false
The cost of an asset is $1,110,000, and its residual value is $110,000. Estimated useful life of the asset is eight years. Calculate depreciation for the second year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.)
A) $138,750 B) $125,000 C) $250,000 D) $208,125
The articles of partnership for Paxton-Robson Partnership provide for a salary allowance of $5,000 per month for partner Robson, with the balance of net income to be divided equally. If Robson made an additional investment of $10,000 during the year and withdrew $4,000 per month, and net income for the year was $80,000, by what amount did Robson's capital increase during the year?
A) $80,000 B) $12,000 C) $60,000 D) $32,000