What Is the Overall Effect on the Balance Sheet When

question 2

Multiple Choice

What is the overall effect on the balance sheet when the business sells inventory for a profit of $3,000?

• A) no change in total assets; no change in total equity
• B) increase total assets by $3,000; increase total equity by $3,000
• C) increase total assets by $3,000; decrease total equity by $3,000
• D) none of the above

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Definitions:

Neck Vein Visible

The appearance of veins in the neck, often more pronounced due to strain, increased blood volume, or heart conditions.

Sitting Position

A body posture involving the torso being more or less upright and the body being supported by the buttocks in contact with the ground or a seat.

Arterial Problems

Conditions affecting the arteries, including blockages and narrowing that can lead to cardiovascular issues.

Lower Extremity

Refers to the lower part of the body, including the hips, legs, and feet.