If a Company's Total Assets Increased While Liabilities and Common

question 179

Multiple Choice

If a company's total assets increased while liabilities and common stock were unchanged, then which of the following statements is true?

• A) Revenues were greater than expenses.
• B) Retained earnings were less than net income during the period.
• C) No dividends were paid during the period.
• D) The company must have purchased assets with cash.

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