Purchasing a Parcel of Land for $100,000 by Paying $10,000

question 25

Multiple Choice

Purchasing a parcel of land for $100,000 by paying $10,000 in cash and signing a promissory note for the remainder would:

• A)decrease owner's equity by $90,000.
• B)increase owner's equity by $10,000.
• C)decrease liabilities by $90,000.
• D)increase total assets by $90,000.

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Definitions:

Acetyl Group

A functional group consisting of a carbon atom double-bonded to an oxygen atom and single-bonded to a methyl group, denoted as CH3CO.

Mitochondrial Matrix

The innermost compartment of the mitochondria, filled with enzymes and molecules vital for cellular respiration and energy production.

Mitochondrial Cristae

The inner membrane folds of mitochondria that increase the surface area for ATP production processes.

Preparatory Reaction

A phase in cellular respiration where pyruvate is converted into acetyl-CoA before entering the citric acid cycle.