A company's product development strategy specifies the portfolio of new products that it will try to develop

When placing a foreign key for a 1:1 relationship, the key of either table can be used as the foreign key in the other table

Indicate whether the statement is true or false

The Austin Land Company sold land for $85,000 in cash. The land was originally purchased for $65,000, and at the time of the sale, $40,000 was still owed to Regions Bank on that purchase. After the sale, The Austin Land Company paid off the loan to Regions Bank. What is the effect of the sale and the payoff of the loan on the accounting equation?

A) assets decrease $20,000; liabilities decrease $40,000; owner's equity increases $20,000 B) assets increase $20,000; liabilities decrease $40,000; owner's equity increases $20,000 C) assets decrease $25,000; liabilities decrease $40,000; owner's equity increases $65,000 D) assets increase $45,000; liabilities decrease $40,000; owner's equity increases $85,000