Comstock Company Provided Consulting Services and Billed the Client $2500

question 144

Multiple Choice

Comstock Company provided consulting services and billed the client $2500.As a result of this event

• A)assets remained unchanged.
• B)assets increased by $2500 but equity was unchanged.
• C)equity increased by $2500 but assets were unchanged.
• D)both assets and equity increased by $2500.

Understand the structure and strategy behind indirect and direct messaging.

Recognize the importance of persuasion in successful communication.

Identify key elements of persuasive communication, including logic, trust, and individualization.

Appreciate the role of emotional and rational appeals in overcoming objections.

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Definitions:

Owner's Capital

The equity in a firm attributable to the owner, reflecting the amount invested by and the earnings retained for the business owner.

Accounts Receivable

Monies owed to a company by customers for sales made on credit that are recorded as assets on the balance sheet.

General Journal

A foundational accounting record that keeps chronological entries of a company's transactions.

T-Accounts

A visual representation used in accounting to depict the debits and credits for each financial transaction affecting a particular account.