On January 1,Brad Inc

question 128

Multiple Choice

On January 1,Brad Inc.sold $30,000 in products to a customer on account.Then,on January 10,Brad collected the cash on that account.What is the impact on Brad's accounting equation from the collection of cash on January 10?

• A)No net effect to the accounting equation.
• B)Assets increase and liabilities decrease.
• C)Assets decrease and liabilities decrease.
• D)Assets increase and stockholders' equity increases.

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Definitions:

Real GDP

Real GDP, or Real Gross Domestic Product, measures an economy's total output adjusted for inflation, providing a more accurate picture of an economy's size and growth.

Interest Rate

Interest rate is the percentage charged or paid for the use of money, typically expressed as an annual percentage of the principal.

Real GDP

Real GDP, or real gross domestic product, measures a country's total economic output, adjusted for price changes or inflation.

Unemployment Rate

The portion of the labor group that is unoccupied with work but is actively seeking employment.