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2 September, 17:00

John contributed $6,000 to the business by opening a bank account in the name of the business, United Internists. This transaction results in an increase in the assets of the business.

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  1. 2 September, 17:31
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    John contributed $6,000 to the business by opening a bank account in the name of the business, United Internists. This transaction results in an increase in the assets of the business.

    True or False.

    The answer is TRUE.

    Explanation:

    The answer is true as stated above.

    The asset that increases in value in Cash in bank.

    $6,000 in the bank is an asset to the business because the business own and controls it and it will bring future economic benefits to the business
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