A Transaction Caused a $60,000 Increase in Both Assets and Total

question 5

Multiple Choice

A transaction caused a $60,000 increase in both assets and total liabilities. This transaction could have been which of the following?

• A) Purchase of office equipment for $60,000 cash.
• B) Purchase of office equipment for $120,000, paying $60,000 cash and issuing a note payable for the balance.
• C) Repayment of a $60,000 bank loan.
• D) Investment of $60,000 cash in the business by the owner.

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Definitions:

Anthropocentrism

The belief that human beings are the most important entity in the universe, often leading to viewing non-human life forms and nature from a human-centered perspective.

Ecological Modernization

A theory proposing that economies can continue to grow while simultaneously reducing their environmental impact, through technological innovation and improved environmental governance.

Ecofeminism

An approach that investigates the domination of women and nature by men.

Human Exemptionalism Paradigm

The view that humans are exceptional but not exempt from the natural world.