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Financial Forensics · Quiz 1 · 27 Oct 2024 · September 2024 term

Question 14: Capital stock was issued for \$100,000 cash

Question 14

+0.5 marksOne correct option

Indicate the net effect on Assests, liabilities and owners equity resulting from each of the given transactions
Based on the above data, answer the given subquestions.

Capital stock was issued for $100,000 cash

  1. A

    Assests increases, Liability increases

  2. B

    Assests increases, Owners equity increases

  3. C

    Assests decreases, Owners equity decreases

  4. D

    Assests decreases, Liability increases

  5. E

    The transaction does not have any impact.

Show answer

Correct answer

  • B

    Assests increases, Owners equity increases

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Question 14 of 23 in the IIT Madras BS Financial Forensics (Financial Forensics) Quiz 1 paper sat on 27 Oct 2024, in the September 2024 term (IIT M DEGREE AN EXAM QDB2 27 Oct 2024). It carries 0.5 marks.

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