The difference between the values of the buyer and seller is referred to as the

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

Money laundering is most accurately described as:

a. The use of funds illegally procured as a result of identity theft b. The use of funds illegally obtained from a fraudulent mortgage lending transaction c. Filtering money through a series of transactions in order to prevent the tracing of the funds to their original illegal source d. Paying for financial goods and services with the use of funds deposited in an offshore banking account