Assume that the value of diagnostic equipment suddenly falls because of technological obsolescence. How is the balance sheet adjusted to preserve the accounting identity?
a. Short-term liabilities are reduced.
b. Long-term liabilities are reduced.
c. Equity is reduced.
d. Inventories are reduced.
e. Cash is reduced.
Ans: c. Equity is reduced.
Business
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This dividend has remained constant over the past few years and is expected to remain constant for some time to come. If you want to earn 11% on an investment in the common stock of Michelak's, how much should you pay to purchase each share of stock? A) $12.50 B) $18.88 C) $20.83 D) $27.27
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Paid listings also are called:
A) pay for placement. B) pay per click. C) pay for performance ads. D) All of the above
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