Which of the following transactions does not affect the total assets of Vertican Sailing Corp.?
A)A bill is received for the telephone service used by Vertican Sailing during the past month.
B)Cash dividends are paid by Vertican Sailing.
C)Customers are billed for sales made on credit by Vertican Sailing.
D)A new computer is purchased on credit by Vertican Sailing.

Question

Quizplus · Accepted Answer

Receiving a bill for telephone service does not immediately affect total assets, as it is a liability that will be paid in the future, not an immediate cash outflow.

Which of the Following Transactions Does Not Affect the Total