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Rico IncIssues a 90-Day, 4%, $3,000 Note on Account

Question 120

Multiple Choice

Rico Inc.issues a 90-day, 4%, $3,000 note on account.This transaction:


A) increases net assets and earnings per share of the company.
B) decreases net assets and increases earnings per share of the company.
C) has no effect on net assets and earnings per share of the company.
D) decreases net assets and earnings per share of the company.

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