Which of the Following Properly Describes the Impact on the Financial

question 45

Multiple Choice

Which of the following properly describes the impact on the financial statements when a company borrows $20,000 from a local bank?

• A)Net income decreased $20,000.
• B)Assets decreased $20,000.
• C)Stockholders' equity increased $20,000.
• D)Liabilities increased $20,000.

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Definitions:

Ethnicity

This term, rooted in the Greek word ethnikos ("nation") and related to ethnos ("custom"), is the expression for the set of cultural ideas held by an ethnic group.

Gender

Socially and culturally constructed roles, behaviors, expressions, and identities associated with being male, female, or non-binary.

Linguistic Diversity

The assortment and variety of languages spoken within a particular community, region, or the globe.

Cultural Diversity

The existence of a variety of cultural or ethnic groups within a society, celebrated for enriching the social fabric.