Which of the following statements best describes the effects of recognizing revenue earned by a business entity?
a. Assets increase only when cash sales are made.
b. Stockholders' equity increases only when credit sales are made.
c. Assets and stockholders' equity increase when either cash or credit sales are made.
d. Assets increase, but stockholders' equity decreases, when either cash or credit sales are made.
c
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Effort
(a) The experience, training, education, and ability required to perform a job under considerationâ€â€not with the skills any employee may possess (b) The measurement of the physical or mental exertion needed for performance of a job (c) The extent to which an employer depends on the employee to perform the job as expected, with emphasis on the importance of job obligation (d) The physical surroundings and hazards of a job, including dimensions such as inside vs outside work, excessive heat or cold, fumes, and other factors relating to poor ventilation
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Indicate whether the statement is true or false