The Entry to Record the Initial Borrowing of Cash by Issuing

question 107

Multiple Choice

The entry to record the initial borrowing of cash by issuing a promissory note causes a(n) :

• A)increase in stockholders' equity.
• B)decrease in assets.
• C)decrease in stockholders' equity.
• D)increase in liabilities.

---

Definitions:

Title VII

A section of the Civil Rights Act of 1964 prohibiting employment discrimination based on race, color, religion, sex, or national origin.

Civil Rights Act

A landmark piece of legislation aimed at outlawing discrimination based on race, color, religion, sex, or national origin.

At-Will Employment

Employment arrangement where either the employer or the employee can terminate the employment relationship at any time without prior notice, for any reason not prohibited by law.

United States

A federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.