If the liability of a business increased $12000 during a period of time and owner's equity in the business decreased $2000 during the same period, the assets of the business must have increased or decreased by how much?
A. decreased $10000
B. decreased $14000
C. increased $10000
D. increased $14000
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On June 8, Acme Co. issued an $80,000, 6%, 120-day note payable to Still Co.What is the due date of the note?
A. 42285
B. 42284
C. 42283
D. 42282
If the maker of a promissory note fails to pay the note on the due date, the note is said to be ____.
A. displaced
B. disallowed
C. dishonored
D. discounted
On June 8, Acme Co. issued an $80,000, 6%, 120-day note payable to Still Co.What is the maturity value of the note?
A. 80100
B. 84800
C. 81600
D. 81200
IAS 12 income tax covers _____.
A. payroll tax
B. current tax
C. deffered tax
D. sales tax