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Which of the Following Could Represent the Effects of an Asset

Question 173

Multiple Choice

Which of the following could represent the effects of an asset exchange transaction on a company's financial statements?  Assets = Liab. + Equity  Rev.  Exp. = Net Inc.  Cash Flow \begin{array} { | l | l | l | l | l | l | l | l | l | l | l |} \hline \text { Assets } & = & \text { Liab. } & + & \text { Equity } & \text { Rev. } & - & \text { Exp. } & = & \text { Net Inc. } & \text { Cash Flow } \\\hline\end{array}


A)
 Which of the following could represent the effects of an asset exchange transaction on a company's financial statements?  \begin{array} { | l | l | l | l | l | l | l | l | l | l | l |}  \hline \text { Assets } & = & \text { Liab. } & + & \text { Equity } & \text { Rev. } & - & \text { Exp. } & = & \text { Net Inc. } & \text { Cash Flow } \\ \hline \end{array}  A)    B)   \begin{array} { | c | c | c | c | c | c | c | c | c | c | c | }  \hline + - & = & + & + & \text { NA } & \text { NA } & - & + & = & + & \text { NA } \\ \hline \end{array}  C)   \begin{array} { | l | l | l | l | l | l | l | l | l | l | l | }  \hline - & = & \text { NA } & + & - & \text { NA } & - & \text { NA } & = & \text { NA } & - \text { OA } \\ \hline \end{array}  D)   \text { None of these could represent the effects of an asset exchange transaction. }
B)
+=++ NA  NA +=+ NA \begin{array} { | c | c | c | c | c | c | c | c | c | c | c | } \hline + - & = & + & + & \text { NA } & \text { NA } & - & + & = & + & \text { NA } \\\hline\end{array}
C)
= NA + NA  NA = NA  OA \begin{array} { | l | l | l | l | l | l | l | l | l | l | l | } \hline - & = & \text { NA } & + & - & \text { NA } & - & \text { NA } & = & \text { NA } & - \text { OA } \\\hline\end{array}
D)
 None of these could represent the effects of an asset exchange transaction. \text { None of these could represent the effects of an asset exchange transaction. }

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