If services are rendered for credit, then
A)assets will decrease.
B)liabilities will increase.
C)stockholders' equity will increase.
D)liabilities will decrease.

Name: If services are rendered for credit, then A)assets will decrease. B)liabilities will increase. C)stockholders' equity will increase. D)liabilities will decrease.
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Question

Quizplus · Accepted Answer

When services are rendered for credit, revenue is recognized, which increases stockholders' equity through an increase in retained earnings.

If Services Are Rendered for Credit, Then