Examlex

Solved

Which of the Following Statements Is Consistent with the Concept

question 56

Multiple Choice

Which of the following statements is consistent with the concept of contingency anchor?


Definitions:

Decrease Liabilities

Actions or transactions that result in the reduction of obligations owed by a company, improving its financial position.

Received Cash

Funds that have been physically or digitally transferred to an entity, reflecting an increase in its liquidity.

Increase Assets

Increasing assets refers to any action or transaction that raises the total value of the assets owned by an individual or entity.

Accounting Equation

The basic principle that equates assets with the sum of liabilities and shareholders' equity, formulated as Assets = Liabilities + Equity.

Related Questions