Services Are Provided to Customers Who Paid Immediately

question 102

Multiple Choice

Services are provided to customers who paid immediately. What effect does this transaction have on the accounting equation?

• A) Assets and liabilities increase
• B) Assets and retained earnings increase
• C) Liabilities increase and retained earnings decreases
• D) Assets and liabilities decrease

---

Definitions:

Doctoral Degree

The highest level of academic degree awarded by universities after completion of advanced research in a specific field.

Clinical Psychology

A branch of psychology focused on diagnosing and treating mental, emotional, and behavioral disorders.

License

A permit from an authority to own or use something, do a particular thing, or carry on a trade.

Psychology Researchers

Individuals who conduct studies and experiments to explore human behavior, mental processes, and the factors that influence them.