Exchanges of assets for assets have what effect on equity?A. increase equityB. may have no impact on equityC. decrease equityD. There is no relationship between assets and equity.
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Exchanges of assets for assets have what effect on equity?
A. increase equity
B. may have no impact on equity
C. decrease equity
D. There is no relationship between assets and equity.
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- Revenue has the effect of: A.increasing assets and decreasing liabilities B.increasing assets and owner's equity C.leaving the entire balance sheet unchanged D.increasing assets and decreasing owner's equity Why option A is incorrect?The payment of past debt by the entity will cause a decrease in asset due to the outflow of cash, and what corresponding effect on liabilities? a. No effect b. Decrease c. The transaction would cause no effect on both accounts. d. IncreaseWhat is the impact on the accounting equation when a sale occurs? A. both sides increase B. both sides decrease C. only the Asset side changes D. neither side changes
- What is the impact on the accounting equation when stock is issued, in exchange for assets? A. both sides increase B. both sides decrease C. only the Asset side changes D. neither side changesWhich of the following would trigger a subtraction in the indirect operating section? A. gain on sale of investments B. depreciation expense C. decrease in accounts receivable D. decrease in bonds payableGive an example of business transactions that would:a. Cause one asset to increase and another asset to decrease,with no effect on either liabilities or owners’ equity.b. Cause both total assets and liabilities to increase with noeffect on owners’ equity.
- Analyze the following transactions and identify its effects on assets, liabilities, and capital. Write ? for increase, ? for decrease, NE for No effect and I/D if the effect is only in one major accounts. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.Owner's equity Select one: a. The resulting amount when total liabilities are subtracted from total assets b. When total liabilities are added to total assets c. None of Them d. The resulting amount when total revenue are subtracted from total cost of salesWhich is FALSE ? A. Assets = Owner’s Equity + Liabilities. B. Assets – Liabilities = Owner’s Equity. C. Assets + Liabilities = Owner’s Equity. D. Assets – Owner’s Equity = Liabilities.
- Which of the following is not an asset? a.cash b.inventory c.owner's equity d.investmentsThe mathematical statement (Assets = Liabilities + Owners’ Equity) = (Assets − Liabilities = Owners’ Equity ) = (Assets − Owners’ Equity = Liabilities) is correct? a. False b. trueA decrease in economic benefits or decrease in assets or increase in liability resulting in decrease in equity is termed as. a. Capital b. Income c. Expense d. Liability