Ibsen Company rendered services and collected half of the invoice in Cash. The remaining balance is due at the end of the month. This transaction
a. increases assets, liabilities and stockholder's equity.
b. increases assets and liabilities; decreases stockholders' equity
c. increases assets and stockholders' equity.
d. has no effect on the basic accounting equation

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Lincoln company has an accounting policy for internal reporting purposes whereby the costs of any research and development projects that are over 70 percent likely to succeed are capitalized and then depreciated over a five-year period with a full year of depreciation in the year of capitalization. in the current year, $400,000 was spent on project one, and it was 55 percent likely to succeed, $600,000 was spent on project two, and it was 65 percent likely to succeed, and $900,000 was spent on project three, and it was 75 percent likely to succeed. in converting the internal financial statements to external financial statements, by how much will net income for the current year have to be reduced? a. $180,000b. $380,000c. $720,000d. $900,000

Financial information that is capable of making a difference in a decision is