55.              If total liabilities diminished by $4,000, then

a.stockholders’ equity need to have lessened by $4,000.

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b.assets should have lessened by $4,000, or stockholders’ equity should have boosted by $4,000.

c.assets and stockholders’ equity each raised by $2,000.

d.assets need to have enhanced by $4,000.

56.              Collection of a $600 Accounts Receivable

a.boosts an ascollection $600; decreases an ascollection $600.

b.increases an ascollection $600; decreases a liability $600.

c.decreases a liability $600; rises stockholders’ equity $600.

d.decreases an asset $600; decreases a licapacity $600.

57.              If an individual ascollection is increased, then

a.tbelow might be an equal decrease in a details liability.

b.tbelow might be an equal decrease in stockholders’ equity.

c.tright here can be an equal decrease in one more ascollection.

d.None of these answer options are correct.

58.              If solutions are rendered on account, then

a.assets will certainly decrease.

b.liabilities will certainly increase.

c.stockholders’ equity will certainly boost.

d.liabilities will certainly decrease.

59.              If solutions are rendered for cash, then

a.assets will certainly rise.

b.liabilities will boost.

c.stockholders’ equity will certainly decrease.

d.liabilities will decrease.

60.              If prices are paid in cash, then

a.assets will increase.

b.liabilities will decrease.

c.stockholders’ equity will rise.

d.assets will certainly decrease.

61.              An investment by the stockholders in a business increases

a.assets and stockholders’ equity.

b.assets and also liabilities.

c.liabilities and stockholders’ equity.

d.assets just.

62.              The purchase of an asset for cash

a.boosts assets and stockholders’ equity.

b.boosts assets and also liabilities.

c.decreases assets and also rises liabilities.

d.leaves complete assets unadjusted.

63.              The purchase of an asset on credit

a.boosts assets and stockholders’ equity.

b.increases assets and liabilities.

c.decreases assets and increases liabilities.

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d.leaves full assets unreadjusted.

64.              The payment of a liability