ABC Company earned $2,000 cash for providing services to customers. Indicate whether each of the following statements about the transaction is true or false.Total liabilities would decrease.Total stockholders' equity would increase.The operating activities section of the statement of cash flows would show a cash inflow.This is an asset exchange transaction.

Question

Quizplus · Accepted Answer

The Answer of ABC Company earned $2,000 cash for providing services to customers. Indicate whether each of the following statements about the transaction is true or false.Total liabilities would decrease.Total stockholders' equity would increase.The operating activities section of the statement of cash flows would show a cash inflow.This is an asset exchange transaction.

ABC Company Earned $2,000 Cash for Providing Services to Customers