A Transaction Caused an Increase in Both Assets and Equity

question 61

Multiple Choice

A transaction caused an increase in both assets and equity. This transaction could have been:

• A) A sale of service to a customer producing revenue.
• B) Sale of land for a price less than its cost.
• C) Borrowing money from a bank.
• D) Sale of land for cash at a price equal to its cost.

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Definitions:

Third Person

A point of view in writing where the narrator tells the story from the perspective of someone not involved in the events, using pronouns like "he," "she," or "they."

Informal

A casual or relaxed style of communication that is not bound by strict rules or formalities.

Synthetic Intelligence

Artificial intelligence that is designed to mimic or surpass human cognitive functions.

Analyze Ideas

The systematic examination of concepts or proposals to understand their components, relationships, and implications.