When a Company Performs a Service and Immediately Collects the Cash

question 112

Multiple Choice

When a company performs a service and immediately collects the cash from the customer,which of the following would occur?

• A) Net income would increase.
• B) Expenses would decrease.
• C) Assets would decrease.
• D) Shareholders' equity would decrease.

---

Definitions:

Red Scare

A term describing the fear and persecution of presumed communists and radical leftists, especially in the United States during the early 20th century, notably in the 1920s and again in the 1950s.

New York Museum of Modern Art

An influential art museum located in New York City, known for its extensive collection of modern and contemporary art.

CIA

The Central Intelligence Agency, operating as a civilian entity under the U.S. federal government, is assigned the responsibilities of collecting, processing, and analyzing information pertinent to the nation's security.

Funded

Provided with financial resources or capital, often referring to projects, programs, or initiatives that receive monetary support.