Which of the following situations increase owner's equity?
a. Supplies are purchased on account.
b. Services are provided on account.
c. Cash is received from customers on account.
d. Utility bill will be paid next month.
Question 2
Product-cost cross-subsidization ________.
A) exists when one overcosted product results in more than one other product being overcosted
B) means that if a company undercosts more than one of its products, it will overcost more than one of its other products
C) means that if a company undercosts one of its products, it will overcost at least one of its other products
D) exists only when one overcosted product results in all other products being overcosted
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