13. On the date that a company borrows money, whether from Aunt Josephine, a bank,...
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13. On the date that a company borrows money, whether from Aunt Josephine, a bank, or some other party, which one of the following will occur? A) Assets will decrease B) Liabilities will increase C) Equity will increase D) Equity will decrease 14. Dividends paid to the stockholders in cash will A) Increase assets and decrease liabilities B) Decrease assets and increase liabilities C) Have no effect on stockholders' equity D) Decrease assets and decrease stockholders' equity 15. A company has revenue of $1,000, expenses of $900, total assets of $1,500, and total liabilities of $500. Their profit margin is: A) 10 percent B) 20 percent C) 33 percent D) 80 percent 16. A company reported sales of $200,000, cost of goods sold of $175,000 and net income of $5,000. On a common-sized income statement gross profit would be reported as A) 87.5% B) 12.5% C) 2.5% D) Can't be determined from the information provided
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