Mulberry Company Collected $7,000 from One of Its Customers,the Amount

question 19

Multiple Choice

Mulberry Company collected $7,000 from one of its customers,the amount owed from the previous month.How does this affect the accounting equation for Mulberry?

• A) assets increase by $7,000; liabilities decrease by $7,000
• B) assets increase by $7,000; assets decrease by $7,000
• C) assets increase by $7,000; liabilities increase by $7,000
• D) assets increase by $7,000; equity increases by $7,000

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Definitions:

Efficiency

a measure of how effectively resources (such as time, money, and labor) are used to achieve a goal or output, often with the aim of minimizing waste and maximizing productivity.

Equity

In finance, refers to the ownership interest in a corporation in the form of common stock or preferred stock; in social justice, refers to fairness and justice in treatment, opportunities, and resources.

Voice

The mechanism by which employees can express concerns, opinions, or grievances in the workplace, leading to constructive dialogue and potential improvements in working conditions, policies, or practices.

Unitarist

A perspective within industrial relations that views the organization as an integrated and harmonious whole, where management and staff share common objectives.