If a Parcel of Land That Was Originally Purchased for $85,000

question 85

Multiple Choice

If a parcel of land that was originally purchased for $85,000 is offered for sale at $150,000, is assessed for tax purposes at $95,000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000. What is the effect of the sale on the accounting equation for the seller?

• A) Assets increase $52,000; owner's equity increases $52,000.
• B) Assets increase $85,000; owner's equity increases $85,000.
• C) Assets increase $137,000; owner's equity increases $137,000.
• D) Assets increase $140,000; owner's equity increases $140,000.
• E) Assets decrease $85,000; owner's equity decreases $85,000.

Comprehend the role and significance of relationship marketing in consumer behavior.

Differentiate between demographic variables and psychographics.

Recognize the impact of consumer-generated content in modern marketing.

Understand the emergence and relevance of virtual brand communities.

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Definitions:

Civil Liberties

The fundamental rights and freedoms guaranteed to individuals, protected from governmental intrusion, such as freedom of speech and privacy.

International Police Power

The authority exercised by a nation or group of nations to enforce international law and order, often through military intervention or peacekeeping forces.

Western Hemisphere

The half of the Earth that lies west of the Prime Meridian and east of the International Date Line, including the Americas and parts of Europe, Africa, and Antarctica.