Druganaut Company Buys a $21,000 Van on Credit

question 44

Multiple Choice

Druganaut Company buys a $21,000 van on credit.The transaction will affect the

• A)income statement only.
• B)balance sheet only.
• C)income statement and retained earnings statement only.
• D)income statement, retained earnings statement, and balance sheet.

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Definitions:

Cortex

The outer layers of the brain in humans and other mammals. Most thinking, feeling, and sensing involves the cortex.

Outer Layers

Pertains to the exterior surfaces or coatings of an object, material, or biological entity, often protecting or enclosing more sensitive inner structures.

Brain

The complex organ located in the skull responsible for thought, memory, emotion, touch, motor skills, vision, breathing, temperature, hunger, and every process that regulates our body.

Cortex

is the outermost layer of the brain, involved in complex functions such as perception, thought, and voluntary movement.