In decimal systems, successive dots or periods indicate levels of ____________

The self-employment tax is

a) Fully deductible as an itemized deduction. b) Partially deductible from gross income in arriving at adjusted gross income. c) Fully deductible in determining net income from self-employment. d) Not deductible.

A bill is received for electric service; the charge for the electricity is recorded, but payment will be made later. For this transaction, identify the effect on the accounting equation

a. Assets increase and liabilities increase. b. Assets increase and stockholders' equity increases. c. Liabilities increase and stockholders' equity decreases. d. Liabilities decrease and assets decrease.