Mac, Inc. purchased a truck on October 1, 2011 in exchange for a ...

[vHAUNG6011]

Mac, Inc. purchased a truck on October 1, 2011 in exchange for a 12-month, 9, 100,000 note. What effect does the October 31, 2011 adjusting entry for interest have on the company's total shareholders' equity?
 
  A) increase
  B) decrease
  C) no effect

Question 2

Which component of the ERM framework is best described here: Management selects whether to avoid, accept, reduce, or share risk  developing a set of actions to align risks with the entity's risk tolerances and risk appetite.
 a. control activities
  b. event identification
  c. risk assessment
  d. risk response

[14vl19]

Answer to Question 1

B

Answer to Question 2

D

[vHAUNG6011]

Thank you

[14vl19]

No problemo