From an accounting perspective, an is a happening that affects the accounting equation, but cannot be measured. True False Answer: B Explanation: Diff: 2 Transaction Analysis Learning Objective: 01-P1 Analyze business transactions the accounting equation. Bloom's: Understand AACSB: Communication AICPA: FN Measurement; BB Industry; FN Decision Making Owner's equity is increased when cash is received from customers in payment of previously recorded accounts receivable. True False Answer: B Explanation: Diff: 2 Transaction Analysis Learning Objective: 01-P1 Analyze business transactions using the accounting equation. Bloom's: Understand AACSB: Analytical Thinking FN Measurement; BB Critical Thinking An owner's investment increases equity via net income. True False Answer: B Explanation: Diff: 2 Topic: Transaction Analysis Learning Objective: 01-P1 Analyze business transactions using the accounting equation. Bloom's: Understand AACSB: Analytical Thinking AICPA: FN Measurement; BB Critical Thinking
From an accounting perspective, an is a happening that affects the accounting equation, but cannot be measured. True False Answer: B Explanation: Diff: 2 Transaction Analysis Learning Objective: 01-P1 Analyze business transactions the accounting equation. Bloom's: Understand AACSB: Communication AICPA: FN Measurement; BB Industry; FN Decision Making Owner's equity is increased when cash is received from customers in payment of previously recorded accounts receivable. True False Answer: B Explanation: Diff: 2 Transaction Analysis Learning Objective: 01-P1 Analyze business transactions using the accounting equation. Bloom's: Understand AACSB: Analytical Thinking FN Measurement; BB Critical Thinking An owner's investment increases equity via net income. True False Answer: B Explanation: Diff: 2 Topic: Transaction Analysis Learning Objective: 01-P1 Analyze business transactions using the accounting equation. Bloom's: Understand AACSB: Analytical Thinking AICPA: FN Measurement; BB Critical Thinking