Assume that Global Cleaning Service performed cleaning services for a department store on account for $180. how would this transaction affect Global Cleaning Service's accounting equation?
a. increase both assets and liabilities by $180
b. increase both assets and equity by $180
c. increase both liabilities and equity by $180
d. decrease liabilities by $180 and increase equity by $180
Ans: b. increase both assets and equity by $180
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The term teamwork essentially refers to:
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When, in a given transaction, the licensee acts a selling agent of the listing broker, the licensee's primary duty is:
A: To the seller; B: To the buyer; C: Restricted by the language of the required power of attorney; D: To protect the best interests of all parties to the transaction.