Services are provided for customers who are sent bills for the amount they owe. 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. Liabilities decrease and assets decrease.
b
You might also like to view...
After posting the closing entries, a post-closing trial balance should be prepared
Indicate whether the statement is true or false
An efficient Enterprise System can significantly lower the cost of support processes included in sales, general, and administrative expenses.
Answer the following statement true (T) or false (F)
Courtlyn’s company uses a local river for dumping. The company is aware that the chemical it dumps causes plant life in the river to die. However, the chemical is so new that no regulations have been written about it. It appears Courtlyn’s company is at the ______ level of corporate social responsibility.
A. legal B. ethical C. benevolent D. social
Which of the following is NOT a progressive discipline action?
A. Oral warning B. Termination C. Informal coaching talk D. Disciplinary suspension E. Informal written warning