What is the effect on total assets and stockholders equity of paying the telephone bill as soon
Question:
What is the effect on total assets and stockholders’ equity of paying the telephone bill as soon as it is received each month?
Total assets | Stockholders’ equity |
a. No effect | No effect |
b. Decrease | No effect |
c. Decrease | Decrease |
d. No effect | Decrease |
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answer is C decrease in total assets and equity stakeholders reason and concl...View the full answer
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Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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