Multiple Choice
Purchasing a parcel of land for $100,000 by paying $10,000 in cash and signing a promissory note for the remainder would:
A) decrease owner's equity by $90,000.
B) increase owner's equity by $10,000.
C) decrease liabilities by $90,000.
D) increase total assets by $90,000.
Correct Answer:
Verified
Correct Answer:
Verified
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