Consider the Following Transactions: Issued Common Stock for Cash

question 179

Multiple Choice

Consider the following transactions: Issued common stock for cash.
Purchased equipment by signing a note payable.
Provided services to customers on account.
Collected cash from customers on account.
How many of these four transactions increased the given company's total liabilities?

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

---

Definitions:

Medical Office

A facility where doctors and other healthcare professionals provide diagnosis, treatment, and various medical services to patients.

Inside Address

The recipient's address in a formal letter or document, positioned usually before the greeting.

Recipient

An individual or entity that receives something, such as a payment, donation, or organ transplant.

Letter Sent

The action of mailing a written message to someone, typically involving a postal service.