Crystal Lodging Recorded $330,000 in Revenues,$247,500 in Expenses,and $45,000 of Dividends

question 55

Multiple Choice

Crystal Lodging recorded $330,000 in revenues,$247,500 in expenses,and $45,000 of dividends for the year.The company began the year with total assets of $285,000 and stockholder's equity of $130,500. Suppose that liabilities increased by $90,000 and stockholders' equity increased by $37,500.What would be the change in Crystal Lodging's assets?

• A)$168,000 increase
• B)$127,500 increase
• C)$154,500 increase
• D)$52,500 increase

Comprehend the difference between financial accounting and other areas of accounting.

Know the various forms of business ownership and their characteristics.

Understand the role and importance of internal and external auditors.

Learn about the concepts and principles underpinning financial reporting standards.

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Definitions:

Consumer Angst

A state of anxiety or aversion experienced by consumers, often due to negative experiences or perceptions related to purchasing and using products or services.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds contradictory beliefs, ideas, or values, leading to an internal conflict.

Purchase Anxiety

The apprehension or doubt a consumer may feel before making a purchase decision, often due to fear of making the wrong choice.

Consumer Cynicism

A sentiment or attitude of distrust towards marketing practices, where consumers doubt the honesty or integrity of advertisements and promotions.