Lang Industries Provided Services to Customers Then Sent Invoices for the Amounts

question 95

Multiple Choice

Lang Industries provided services to customers then sent invoices for the amounts owed. What effect does this transaction have on the accounting equation?

• A) Assets and liabilities increase
• B) Assets and retained earnings increase
• C) Liabilities decrease and contributed capital increases
• D) Assets and liabilities decrease

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Definitions:

Compliant Personality

A personality trait characterized by a predisposition to agree with others and follow rules or instructions with little resistance.

Tyranny of the Shoulds

A concept in psychotherapy describing how an individual's internalized set of unrealistic expectations and demands on themselves can lead to distress and mental health issues.

Idealized Self-image

A highly positive version of oneself that people aspire to become, often influenced by personal desires and societal expectations, but not always aligned with reality.

Psychosocial Stages

A theory by Erik Erikson that human development is governed by a sequence of stages that depend on social and emotional factors.