Saddleback Company Paid Off $30,000 of Its Accounts Payable in Cash.What

question 159

Multiple Choice

Saddleback Company paid off $30,000 of its accounts payable in cash.What would be the effects of this transaction on the accounting equation?

• A)Assets,$30,000 increase;equity,$30,000 increase.
• B)Assets,$30,000 decrease;liabilities,$30,000 decrease.
• C)Assets,$30,000 decrease;liabilities,$30,000 increase.
• D)Liabilities,$30,000 decrease;equity,$30,000 increase.
• E)Assets,$30,000 decrease;equity $30,000 decreasE.Assets = Liabilities + Owner's Equity

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Definitions:

Informed Consent

The process of ensuring that a participant in research has a comprehensive understanding of what the study involves and voluntarily agrees to participate.

Research Ethics

The set of ethical principles governing the conduct of research to ensure the integrity of the research process and the protection of participants.

Group Mind

The theory that suggests individuals when in groups have psychological processes that are distinct from those they would have if they were alone.

Crowds

Large groups of people gathered together, often for a specific purpose or under similar interests or circumstances.