Payment is received from customers who were billed earlier for services provided for them. For this transaction, identify the effect on the accounting equation
a. Assets increase and liabilities increase.
b. Assets increase and stockholders' equity increases.
c. Liabilities increase and stockholders' equity decreases.
d. There is no effect on the accounting equation as one asset account increases while another asset account decreases.
d
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World Skies' Flight 167 takes off at 50 percent capacity. The unoccupied seats cannot be stored for later sale or use. This is an example of which service characteristic?
A) tangibility B) intangibility C) perishability D) variability E) inseparability
Through marketing accountability, marketing is treated more as a(n) ________ than as a(n) ________
A) effect; cause B) indicator; art C) process; art D) art; process E) art; science
In a negligence action, all parties in the product's chain of distribution are liable for the injury,
even if only one party was negligent. Indicate whether the statement is true or false
In addition to the coverages provided in a policy of fire insurance, homeowners insurance
provides coverage for: A) Flood insurance. B) An annuity component. C) Disability of the homeowner. D) Personal liability. E) Private mortgage insurance.