Question
Which of the following statements is false when a company sells inventory costing $900 for $1,500 cash? Current assets increase $600. Gross profit increases $1,500.
Which of the following statements is false when a company sells inventory costing $900 for $1,500 cash?
| Current assets increase $600. | ||
| Gross profit increases $1,500. | ||
| Stockholders' equity increases $600. | ||
| Net sales increases $1,500. |
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Expert Systems In Auditing
Authors: J C Van Dijk, Paul Williams, Michael P. Cangemi
1st Edition
1349124761, 978-1349124763
