Touch Tronix, Inc

question 86

Multiple Choice

Touch Tronix, Inc.sells component parts to Advanced Communications, Inc.a cell phone manufacturer.On December 10, 2011, Touch Tronix, Inc.sold €680,000 of goods to Advanced Communications, Inc.on account for €880,000.Terms of the sale were 2/10, net 30.On December 18, 2011, Advanced Communications, Inc.paid the account in full.Advanced Communications, Inc.uses a perpetual inventory system.Which of the following is true regarding the impact on the statement of financial position for Advanced Communications, Inc.when the payment is made on December 18, 2011?

• A)Assets decreased by €880,000.
• B)Assets increased by €17,600.
• C)Liabilities decreased by €862,400.
• D)Liabilities decreased by €680,000.

Understand the principles of asset allocation in investment processes.

Grasp the role of systemic risk factors in financial crises.

Differentiate between the creation and trading of financial and real assets.

Understand the mechanics and expectations behind mortgage securities.

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Definitions:

Breast Feeding

The process of feeding a baby with milk directly from the mother’s breasts.

Infant's Health

Refers to the overall physical and psychological well-being of a baby from birth to 1 year of age, encompassing aspects such as growth, developmental milestones, and prevention of illnesses.

Malnutrition

A condition that results from eating a diet which does not supply a healthy amount of one or more nutrients, leading to various health issues.

Marasmus

A severe form of malnutrition characterized by energy deficiency, often seen in children, leading to significant weight loss and muscle wasting.