If Supplies That Have Been Purchased Are Used in the Course

question 127

Multiple Choice

If supplies that have been purchased are used in the course of business, then

• A) a liability will increase.
• B) an asset will increase.
• C) stockholders' equity will decrease.
• D) stockholders' equity will increase.

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Definitions:

C2B

Consumer to Business, a type of economic relationship where individuals sell products or services to businesses.

Geolocation

The method of identifying the geographical location of a person or device, usually by utilizing information processed through the Internet.

GPS

A global positioning system that uses satellites to provide location and time information in all weather conditions, anywhere on or near the Earth.

Smartphone

Phone with features of a computer including a wide assortment of apps, media players, high-quality cameras, and web connectivity.