Land Is Purchased by a Business for $100,000

question 35

Multiple Choice

Land is purchased by a business for $100,000. The company pays for the land by a cash payment of $20,000 and promised to pay the remaining amount at a later period. What is net effect of this transaction on the business's accounting equation?

• A)Assets increase by $100,000; liabilities decrease by $20,000.
• B)Assets increase by $100,000; liabilities decrease by $80,000.
• C)Assets increase by $80,000; equity increases by $80,000.
• D)Assets increase by $80,000; liabilities increase by $80,000.

Comprehend how genetic counseling can assist prospective parents.

Understand the concept of reaction range and its relation to genetics and environment.

Describe how ultrasound and other imaging techniques can be used in prenatal care and diagnosis.

Appreciate the genetic basis of human diversity and inheritance patterns.

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Definitions:

Creativity

The ability to produce original and valuable ideas or solutions through imagination and lateral thinking.

Problem Solving

The process of identifying a challenge, difficulty, or uncertainty and applying strategies or techniques to find solutions or overcome it.

Decision

The act or process of making a choice from a set of alternatives.

System I

A term often associated with fast, automatic, and intuitive thinking, as per dual-process theory in psychology.