Which of the following statements is correct? If a business acquires a vehicle for 36,000, making a

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Which of the following statements is correct? If a business acquires a vehicle for £36,000, making a downpayment of £15,000 and undertaking to pay the remainder a year later:
(a) Net assets will increase by £36,000
(b) Net assets will increase by £21,000
(c) Net assets will not change
(d) Net assets will decrease by £21,000

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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