The Effect on the Statement of Financial Position When the Owner

question 70

Multiple Choice

The effect on the statement of financial position when the owner contributes her private vehicle for the exclusive use of the business is:

• A)increase asset vehicle; increase equity.
• B)increase asset vehicle; decrease equity.
• C)increase asset vehicle; increase owner's drawings.
• D)none of the above.

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Definitions:

Equal Opportunity

Equal opportunity is a principle ensuring that all individuals have the same chances to compete for and obtain jobs, education, and other resources, without discrimination based on irrelevant characteristics.

Gender Role Stereotypes

Preconceived ideas and expectations about behaviors, attributes, and roles that society considers appropriate for men and women.

Promotion Decisions

The process of deciding which employees to advance to higher positions within an organization, based on criteria such as performance and potential.

Formal Procedures

Established and officially sanctioned methods and processes used to accomplish tasks or solve problems.