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:

World Price

The global market price of a commodity, determined by supply and demand dynamics across international markets.

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