Payment is made for machinery purchased previously on credit. What effect does this transaction have on the accounting equation?
A) Assets and liabilities increase
B) Assets and contributed capital increase
C) Liabilities decrease and retained earnings increase
D) Assets and liabilities decrease
D
You might also like to view...
CSFs ______.
A. refers to critical success factors B. are usually outsourced C. are regulated by a government agency D. do not impact the success of the firm
Overhead costs generally are estimated as part of the normal budgeting function
Indicate whether the statement is true or false
Marginal analysis is most appropriately described as
A) matching problems with appropriate strategies to deal with them. B) examining changes in variables that are related to controllable decision inputs. C) looking at the "next-best" strategy when "first-best" isn't available. D) balancing consumption and investment budgets.
Suppose the quote on pounds was $1.624-31. If you converted $10,000 to pounds and then back to dollars, how many dollars would you end up with?
What will be an ideal response?