If Office Equipment Is Sold at Cost in Exchange for a Promissory

question 105

Multiple Choice

If office equipment is sold at cost in exchange for a promissory note,

• A) total liabilities increase.
• B) total liabilities and owner's equity decrease.
• C) total assets decrease.
• D) total assets remain the same.

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Definitions:

Video Display Terminals

Electronic devices with a screen used to display information from a computer, common in workplaces and associated with ergonomic and health considerations.

Employee Health

The physical and mental well-being of individuals in a workplace, often addressed through wellness programs and health policies.

Cumulative Trauma Disorder

A condition resulting from repetitive strain or injury to muscles, tendons, and nerves, often associated with repetitive tasks, poor ergonomics, or overuse.

Job-Typing

Identifying and categorizing job roles based on specific characteristics and requirements; often used for efficient job classification and recruitment processes. NO.