A Business Renders Services to a Client and Issues a Sales

question 140

Multiple Choice

A business renders services to a client and issues a sales invoice.The amount will be collected from the customer at a later time.Which of the following is true at the time the invoice is issued?

• A)Equity will decrease.
• B)Total liabilities will increase.
• C)Total assets will decrease.
• D)Net income will increase.

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Definitions:

Fish Kills

Events where a significant number of fish die suddenly in a particular area, often due to factors like pollution, lack of oxygen, or disease.

Industrial Chemicals

Substances produced for various industrial and manufacturing processes, often used in creating products or in operations.

Water Temperatures

The measure of how hot or cold water is, which can significantly affect aquatic life and ecosystem health.

Cultural Eutrophication

The process by which a body of water becomes overly enriched with minerals and nutrients due to human activity, leading to excessive algae growth and oxygen depletion.