Mize Company Provided $45,500 of Services on Account,and Collected $38,000

question 3

Multiple Choice

Mize Company provided $45,500 of services on account,and collected $38,000 from customers during the year.The company also incurred $37,000 of expenses on account,and paid $32,400 against its payables.As a result of these events,

• A)total assets would increase
• B)total liabilities would increase
• C)total equity would increase
• D)all of these answer choices are correct

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Definitions:

Quitclaim Document

A legal instrument used to release a person's interest or claim in a piece of property without warranty, often used in transferring property rights among family members.

Sensitive Corporate Documents

Documents that contain confidential or proprietary business information, the disclosure of which could be harmful to a company's interests.

Proxy Server

A server that acts as an intermediary for requests from clients seeking resources from other servers.

Internal Server

A server located within an organization's network, providing services to users within the same network, often used for intranet, file sharing, and databases.