When a Business Purchases a $50,000 Computer System by Writing

question 55

Multiple Choice

When a business purchases a $50,000 computer system by writing a check, the business's balance sheet will:

• A) only show an increase in liabilities of $50,000.
• B) show an increase in assets and liabilities for $50,000.
• C) not reflect any increase in assets or liabilities, only a change in the composition of assets.
• D) only show an increase in assets of $50,000.

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Definitions:

Harry Stack Sullivan

An American psychiatrist known for his theory of interpersonal relationships and his contributions to the development of psychoanalytic and psychodynamic theories of personality.

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Systematic investigation to establish facts and reach new conclusions.

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The act of providing assistance or reinforcement that is physical in nature, often essential for health and wellbeing.