On December 31, 20D, the effect of recording an adjustment for interest of $1,200, which had accrued on a note payable would be
A. a decrease in stockholders' equity and decrease in an asset.
B. a decrease in liabilities and increase in stockholders' equity.
C. a decrease in stockholders' equity and an increase in liabilities.
D. an increase in stockholders' equity and increase in an asset.
Ans: C. a decrease in stockholders' equity and an increase in liabilities.
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Which of the following statements is most likely true about unsought products?
A) Unsought products are consumer products and services that customers buy frequently. B) Marketers use aggressive advertising to convince consumers to buy unsought products. C) Unsought products are typically purchased for further processing by industrial manufacturers. D) Compared to convenience products, unsought products are purchased more frequently. E) Unsought products offer many unique characteristics to status-conscious consumers.