Use This Information to Answer the Following Question

question 51

Multiple Choice

Use this information to answer the following question. Here is the balance sheet for Costello Container Company:

-If the balance in the Cash account were used to buy more equipment,then the total assets would

• A)remain unchanged.
• B)increase by $8,000.
• C)decrease by $8,000.
• D)increase by $21,000.

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Definitions:

Institutionalization

The process of establishing something as a norm or standard within a society or organization.

Voidable

A legal term referring to a contract or action that can be invalidated or annulled by one or more of the parties involved.

Disaffirmance

The legal act of renouncing or nullifying a contract or agreement, particularly by minors or those not completely competent to enter into a contract.

Tort of Deceit

A legal wrong involving intentional misrepresentation or concealment of truth leading to damage or harm to another party.