Land Is Purchased on Credit

question 76

Multiple Choice

Land is purchased on credit.For this transaction, identify the effect on the accounting equation.

• A)Assets increase and liabilities increase.
• B)Assets increase and owners' equity increases.
• C)Liabilities increase and owners' equity decreases.
• D)Liabilities decrease and assets decrease.

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Definitions:

Parvocellular Cells

Small-bodied neurons located in the parvocellular layer of the thalamus, involved in processing of fine visual details and color.

Visual Cortex

The part of the cerebral cortex of the brain that processes visual information.

Photosensitive

Having a sensitivity to light, causing a chemical, physical, or biological response when exposed to it.

Retinal Ganglion Cells

Neurons in the retina that receive visual information from photoreceptors via bipolar cells and transmit it to the brain.