Assuming No Adjusting Journal Entries Have Been Made During the Year,the

question 42

Multiple Choice

Assuming no adjusting journal entries have been made during the year,the journal entry on the due date of the cash interest payment for bonds issued at a premium has just been prepared.Which of the following is not an effect of the entry?

• A)An increase in expenses and a decrease in liabilities.
• B)An increase in expenses and an increase in liabilities.
• C)A decrease in both liabilities and stockholders' equity.
• D)A decrease in both assets and liabilities.

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Definitions:

Public Place

An area that is open and accessible to people, such as parks, streets, and public squares.

Help

Assistance given to those in need or in difficulty.

Rejection

The act of dismissing or refusing a proposal, idea, or individual, often leading to feelings of exclusion or inadequacy.

Permanent Banishment

The act of expelling someone from a community, country, or organization forever, without the possibility of return.