Which of the Following Transactions Would Increase an Asset and Increase

question 83

Multiple Choice

Which of the following transactions would increase an asset and increase owner's equity?

• A)payment of a note payable
• B)receipt of cash in payment of an account receivable
• C)owner investment of land into the business
• D)payment of the telephone bill

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Definitions:

Trademark

A recognizable sign, design, or expression which identifies products or services of a particular source from those of others, legally protected under intellectual property laws.

Foreign Sovereign Immunities Act

A U.S. law that sets limitations on lawsuits against foreign governments in U.S. courts, establishing exceptions under which such lawsuits are allowed.

Commercial Activity

Any form of business or trade activity, including the provision of goods and services, conducted with the intent of generating profit.

Quota

A government-imposed trade restriction that limits the number, or sometimes the value, of goods and services that can be imported or exported during a particular time period.