Which of the following reflects the effect of the customer accepting the finished goods with a commitment
Question:
Which of the following reflects the effect of the customer accepting the finished goods with a commitment to pay for them in 1 month’s time on the accounting equation?
(a) Assets decrease: ownership interest decreases
(b) Assets decrease: ownership interest increases
(c) Assets increase: ownership interest increases
(d) Assets increase: ownership interest decreases
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c Acceptance of the goods means that the customer ...View the full answer
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