A Transaction Caused an Increase in Both Assets and Owners

question 14

Multiple Choice

A transaction caused an increase in both assets and owners' equity.This transaction could have been resulted from the:

• A)Sale of services to a customer.
• 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:

Disband Permanently

means to dissolve a group, organization, or team in such a way that it will not be reformed or reconstituted in the future.

Task Force

A temporary group of people formed to accomplish a specific objective or to address a particular problem.

Class Sizes

The number of students enrolled in a particular class or educational course.

Teachers

Professionals responsible for educating students, developing lesson plans, and assessing student progress in schools.