customer from 6) Atkins Company collected $1,750 as payment for the amount owed by a e provided the prior month on credit. How does this transaction affect the accounting equation for Atkins? $1,750 A) Assets would increase $1,750 and equity would increase 1, B) Assets would increase $1.750 and liabilities would increase C) Liabilities would decrease $1.750 and equity would increase $1,750 D) Assets would decrease $1,750 E) One asset and liabilities would decrease $1,750 would increase $1,750 and a different asset would decrease $1,750, causing no effect. 7) A limited partnership: 7) A) Has owners called stockholders. B) Is subject to double taxation C) Is the same as a corporation. D) Includes a general partner with unlimited liability. E) May only have two partners. 8) Resources a company owns or controls that are expected to yield future benefits are A) Liabilities. B) Stockholders' Equity. C) Expenses. D) Revenues. E) Assets. 9) If the assets of a company increase by $55,000 during the year and its liabilities increase 9) by $25,000 during the same year, then the change in equity of the company during the year must have been: A) An increase of $25,000. B) An increase of $30,000 C) An increase of $80,000. D) A decrease of $80,000. E) A decrease of $30,000. 10) Cash investments by stocktholdes are listed on which of the followving statements? 0) A) Statement of cash flows. B) Balance sheet C) Statement of retained earnings. D) Income statement. E) All of these