Your company pays back $2 million on a loan it had received earlier from a bank.
A) Assets are unchanged, liabilities and stockholders' equity both increased by $2 million.
B) Assets decrease by $2 million, liabilities decrease by $2 million, stockholders' equity is unchanged.
C) Assets are unchanged, liabilities increase by $2 million, contributed capital decreases by $2 million.
D) Assets decrease by $2 million, liabilities are unchanged, contributed capital decreases by $2 million.
Correct Answer:
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Q37: At the start of the first year
Q38: Q39: How many of the following statements regarding Q39: The characteristic shared by all liabilities is![]()
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