Flake Company accepted a check from Ramos Company as payment for services rendered by Flake Company. Later Flake's bank statement revealed that Ramos' check was an NSF check. Recognizing the NSF check on Flake's books would act to:

a. Decrease total assets
b. Decrease total owners' equity
c. Both a. and b.
d. Have no effect on Total Assets

d

Business

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________________ Information Search: Consider MANY attributes and brands, Form attitudes, Word of Mouth Communication

Fill in the blank(s) with the appropriate word(s).

Business

In a loan assumption, the seller wants to be released from any future liability on the assumed loan. To accomplish this, a release of liability would be signed by:

A. The new buyer assuming the loan? B. The seller who took out the loan. C. The lender who made the loan. D. Both the buyer and seller.

Business