When a business pays its Accounts Payable with cash, its accounting equation is affected in the following way a. Decreases stockholders' equity and decreases liabilities. b. Increases assets and decreases liabilities c. Decreases assets and increases stockholders' equity. d. Decreases assets and decreases liabilities. Which of the following is not a characteristic of a perfectly competitive market structure? a. There are no restrictions to entry by new firms. b. All firms sell identical products. c. There are a very large number of firms that are small compared to the market. d. There are restrictions on exit of firms. A distinguishing characteristic of a team (in contrast to a group) is that a. The members are engaged in a collective effort using complementary skills b. The members recognize that they are a special type of group c. Its members have a variety of experiences d. The members enjoy working together