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If a Company Issues Common Stock for $40,000 and Uses

Question 189

Multiple Choice

If a company issues common stock for $40,000 and uses $30,000 of the cash to purchase a truck,

A) assets will be increased by $10,000.
B) equity will be reduced by $40,000.
C) assets will be increased by $40,000.
D) assets will be unchanged.

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