Consider the Following Transactions

question 40

Multiple Choice

Consider the following transactions:
Issued common stock for cash.
Purchased equipment by signing a note payable.
Paid rent for the current month.
Collected cash from customers on account.
How many of these four transactions increased the given company's total assets?

• A)One.
• B)Two.
• C)Three.
• D)Four.

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Definitions:

Low-cost

Referring to goods or services offered at a low price point, typically aiming to be affordable to a wide range of consumers.

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Organization

An arranged group of people with a particular purpose, such as a business or government department.

Crowdsourcing

The practice of obtaining information, ideas, or content by soliciting contributions from a large group of people, typically from the online community.