$11$

$2\mathrm{.}5$ points

Net income is sometimes called earnings or profit.

False

True

$12$

$2\mathrm{.}5$ points

Assets increase $$12,000$ and equity increases $$12,000.$

Liabilities increase $$12,000$ and equity decreases $$12,000.$

Assets decrease $$12,000$ and equity decreases $$12,000.$

Assets increase $$12,000$ and liabilities decrease $$12,000.$