Root Company Provided Consulting Services and Billed the Client $2,500

question 170

Multiple Choice

Root Company provided consulting services and billed the client $2,500. As a result of this event,

• A) assets remained unchanged.
• B) assets increased by $2,500.
• C) equity increased by $2,500.
• D) Both assets and equity increased by $2,500.

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Definitions:

Irrationality

The act of behaving or making decisions that lack reason or logical thinking.

Fanaticism

Extreme zeal or enthusiasm, often to the point of irrationality, in support of a cause or belief.

USA PATRIOT Act

Legislation passed in response to the September 11, 2001, terrorist attacks aiming to strengthen U.S. counterterrorism efforts by enhancing law enforcement investigatory tools.