Hill's Copy Service Performed Photocopy Services During December,20A,but Had Not

question 87

Multiple Choice

Hill's Copy Service performed photocopy services during December,20A,but had not collected any cash (or other assets) from its customers by the end of the accounting period,December 31,20A.What effect did performing these services have on the fundamental accounting model?

• A)Increased assets and increased liabilities.
• B)Increased assets and increased shareholders' equity.
• C)Increased assets and decreased shareholders' equity.
• D)Decreased liabilities and decreased shareholders' equity.

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