1. A firm issues $15 million of stock in exchange for a building. This transaction will:

		A. Increase fixed assets and increase non-current liabilities
		B. Increase current assets and increase current liabilities
		C. Increase fixed assets and increase equity.
		D. Have no effect on fixed assets and no effect on equity
		E. Increase current assets and decrease equity

2. Bostel wanted to expand the size of its warehouse in order to generate more profits. The company decided to purchase the building adjacent to its existing warehouse. The company pays for the building by borrowing from the bank. The purchase would be recorded as:

		A. Debit Cash; credit Notes Payable.
		B. Debit Buildings; credit Cash.
		C. Debit Buildings; credit Notes Payable.
		D. Debit Cash and Buildings; credit Notes Payable.

3. Jerome purchased a building for his business by signing a note to be repaid over the next ten years. Which of the following correctly describes how to record this transaction?

		A. Debit assets, credit liabilities.
		B. Debit assets, credit stockholders' equity.
		C. Debit liabilities, credit assets.
		D. Debit expenses, credit liabilities.

4. Reporting financial statements using market values is a violation of the _______________ principle.

		A. Going concern
		B. Monetary unit
		C. Historical cost
		D. Economic entity

Please, I need an expert in accounting since this is for a grade.